Mortgage Interest: The Real Deal In Real Estate Today

Real Estate Broker/Owner with Hello Realty NM Broker License 16161

Stop looking for housing deals when the real deal is mortgage interest rates!

EmilyMedvec_Realtor_Santa Fe

Did you know the mortgage interest rates are the lowest they have been in 30 years? This means it cost less to borrow a home now than it did in 1981. Stop and think about it for a minute. In 1981, the interest rate on your home mortgage was just under 16%! Where as in 2011 it was just slightly over 4.25%. And now in 2012, it is slightly below 4%!

It is time to do the math and take advantage of what is the true deal in housing today: mortgage loan interest rates. If you are a buyer qualified to purchase, yet still searching for the best house deal you can find online, you are missing the real deal called interest rates.

Look at the numbers. In 1981, your monthly payment for a $300,000 home with a 30 year mortgage with a fixed 15.75 interest rate would have been $3,973.85 per month. Today, your monthly payment for a $300,000 home with a 30 year mortgage with a fixed 3.75 interest rate would be $1,389.35 instead! Mortgage interest rates are the real deal in real estate today. Why not stop and think about where your true buyer leverage is in real estate today.

If you are searching for real estate in Santa Fe, New Mexico, never before has home ownership been so affordable with our median sales price at $320,443 for 2011. If you wonder what needs to change in housing in 2012, know the answer might just be a better understanding of the hidden deal in low mortgage interest rates. Why? Just look at how your buying power has increased with these historic low rates. It is now cheaper to buy in Santa Fe than it is to rent.

If you are ready to get started on using your qualified buyer leverage, contact Emily Medvec at 505-660-4541 or Ulla Allyn at 505-470-2381 for more information on the best values in our local market today.


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Our Santa Fe real estate market is a local one. Search All Santa Fe Listings Here and get results in both an easy list or map search. If you want to see a SOLD sign on your property or you want to make a lifestyle change by moving here, call me at 505-660-4541 to schedule a real estate consultation. No one has time or money to waste in this new landscape of real estate online. I am available to help you and make a positive difference in your real estate experience. Remember dreams are made a reality only when you act on them. Emily Medvec

Today, I represent Sellers and Buyers in all price ranges in Santa Fe and throughout northern New Mexico. My focus is to use my experience, vision and strategies to find you opportunities and solutions. My goal is always to save you time and money whether you are selling or buying any type of Santa Fe real estate, including homes, land, town homes, condominiums, ranches and commercial property. Here are recent reviews from my past clients about my know-how and service. Until you are ready to Buy or Sell, let's connect and learn more about each other on Facebook or Twitter

Emily Medvec Copyright 2019 All Rights Reserved 2007-2019


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Steven Brand
Hancock Mtg Partners - Stillwater, MN
NMLS# 261849

Rates ARE great. 

The OTHER thing we (mtg and real estate folks) need to remind everyone is that for most buyers it takes ZERO to 5% down to buy a home.  If we focus on getting THAT message out there... our phones will ring at the levels they should be right now with home prices down and rates low.

Feb 05, 2012 02:04 PM #1
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I'm not looking to buy a home but this is great blog post! :)

Feb 05, 2012 02:16 PM #2
Winston Heverly
Winston Realty, Inc. - Atlantis, FL

Rates may be great, but qualifying is a different story. The challenge here is the state of the property to qualify the buyers. It is almost impossible to compete with cash offers in price points below $250k. Realtors just will not take low down or FHA offers.

Feb 05, 2012 02:18 PM #3
Emily Medvec Qualifying Broker
Hello Realty - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Steven, mortgage rates are at their lowest in 30 years! The number is beyond great!

Laura, thank you for stopping by. Hopefully you will pass the news on mortgage rates forward.

Winston, we are closing another buyer next week with an FHA loan. As Realtors(r) we do not interfer with the type of financing our buyers bring to the table for our sellers.

Feb 05, 2012 10:47 PM #4
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Emily, this is a suggest for sure...putting the dollar and cents in the years comparisons makes it pop out to any buyer...strong credit people and even ones who are just good credit is the time to buy...great share!

Feb 05, 2012 11:15 PM #5
Sue Ellett
Better Homes and Gardens Real Estate ~ Paragon Property Group - Marble Falls, TX
Marble Falls, & Austin, TX, Lake Travis, Lake LBJ

Hi, Emily, great post for potential buyers on the fence.  The time to buy a home with maximum buying power is NOW!

Feb 05, 2012 11:31 PM #6
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Hi Emily, You have nailed it with this post.  We may never see interest rates this low again.  The home inventory is still good and now is the time to get off the fence and make real estate dreams become a reality!  Have a great New Mexico day my friend.

Feb 06, 2012 02:40 AM #7
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Emily, I had some move up buyers this week that I had this very conversation with, and they GASPED when I told them I had  17% interest rate!     They promptly thought the house was worth buying!

Feb 08, 2012 03:29 PM #8
Emily Medvec Qualifying Broker
Hello Realty - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Ginny, thank you! When people are focused on "numbers" aka price, then it is time to focus on where the "deal" is today and that is in the interest rates!

Sue, the smart buyers are off the fence because they see where the deal is today.

John, thank you! Yesterday, I saw a rate below 3.75. The important downward trend is interest rates!

Joan, smart thinking! One of our best services is to educate both buyers and sellers about the meaning of this new landscape of real estate and interest rates.

Feb 08, 2012 11:39 PM #9
Paula Bradfield
Bradfield Ramsey Group - Salida, CO
Your Salida Colorado area Realtor Team

Emily, I am turning this into a chart for fence-buyers. thanks sooo much!


Feb 10, 2012 06:01 AM #10
Emily Medvec Qualifying Broker
Hello Realty - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Paula, I think the more buyers are informed in a way to help they see real estate today differently, they will get a better handle on their local markets. I did the same.

Feb 14, 2012 02:26 AM #11
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA


THIS is the real deal....every time a mortgage lender tells me what the latest mortgage rate is, I find my head shaking in disbelief. Never have I seen these rates for 30-year mortgages. It is such a far cry when we had 17% rates back in the early 80s.

And at the height of the market, only the interest only loans had anything even remotely close to 4%.

THIS is the real deal.

Feb 18, 2012 01:46 PM #12
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Emily Medvec Qualifying Broker

Realtor | Serving Santa Fe & Northern NM
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