Would you pay 18% to buy a home?

By
Real Estate Agent with eXp Realty
https://activerain.com/droplet/Gv8

Mortgage Rates Rise Aug 17, 2012Would you pay 18% to buy a home?

I almost have to chuckle when I see the Headline of: "Mortgage Rates rise to 3.62%" Oh, no, that high?! How about paying 18% in the early 80's?! It's almost impossible to comprehend such a high rate which is why seeing our current August 17, 2012 rates being reported as rising, it's as if, you're being given money for free to buy a home when you compare it to the early 80's.

Think about it ... 3.62% or 18%. No wonder sales have been increasing. Now we just need more homeowners to list their homes for sale - Are you selling your home? With, these rates, you should have Buyers lined up at the front door!

This reported rate increase is the third week of mortgage rate increases yet we're still at record lows. The low rates have obviously been a huge factor in sales increasing to assist in seeing some Real Estate Market recovery. However, these lower rates only keep the market from crashing into deeper depths. Much progress is still needed.

This is just a reminder to be thankful for these low rates even when you hear reports of rates rising.

Posted by

Subscribe to My Blog

The more you know,  the better prepared, the better the outcome.

Whether you're Selling your home in Coral Springs or Buying your home in Coral Springs or other Southeast Florida cities from Boca Raton south to Miramar, I promise to be on your side working hard for you as your Coral Springs Realtor and South Florida Realor. Helping homeowners with Coral Springs Real Estate and the Real Estate in surrounding cities such as Coral Springs, Coconut Creek, Parkland, Plantation, Pembroke Pines, Margate, Miramar, Tamarac and Sunrise in Broward county to the cities of Boca Raton, Delray Beach and Boynton Beach in Palm Beach county. 

 As your dedicated Coral Springs Realtor, Short Sale Specialist, Keller Williams South Florida Real Estate Agent, Coral Springs Short Sale Realtor, South Florida Short Sale Realtor and CDPE Certified Distressed Property Expert, I'm ready to work hard for you.

 Real Estate Promises Delivered

I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor and Coral Springs Short Sale Realtor 

 

Copyright protected. Do Not Copy

  

+LynnPineda

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Groups:
Keller Williams 'Rainers
Bartender, Make it a Double
"Whacked"!!!
Tags:
mortgage rates aug 17 2012
buy home in coral springs
sell your home in coral springs

Spam prevention
Show All Comments
Rainer
182,446
Stuart Dobson
eLoanRates.org - Thornton, CO

It's funny that people stress about even a 5% mortgage rates these days when you look back 30 years and see 16-18% rates that people used to pay.  And shockingly, people bought homes then too.  Thank you for the reminder that our rates today are excellent by comparison.

Aug 17, 2012 08:03 AM #1
Rainmaker
444,497
Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

I can remember thinking that rates couldn't go any lower when they were 5%!  

Aug 17, 2012 08:24 AM #2
Rainmaker
365,288
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Stuart, I know....isn't it incredible. You're right as 5% is real good too!

Catherine, we're border line free now!

Aug 17, 2012 10:33 AM #3
Ambassador
780,457
Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

My dad tells me about the pride he felt securing a mortgage for only 13%. Of course he had to pay points to get that low, but it was still a great rate. Take everything in perspective!

Aug 17, 2012 10:51 AM #4
Rainmaker
509,302
Jim Patton
Aspire Home Real Estate 209-404-0816 - Modesto, CA
Realtor - Stanislaus ,Merced, San Joaquin Counties

Lynn - I bought my first home in 1984.   We assumed (remember doing that?) a mortgage at 13% and had a second of 15%.   So today's rates are CHEAP! 

Aug 17, 2012 11:52 AM #5
Ambassador
1,726,734
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Lynn...

I had a thirty year mortgage at 18% in th early 80's ... and the payments were ridiculous, but what could you do but pay it?

Aug 17, 2012 01:44 PM #6
Rainmaker
2,777,838
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, the rates are amazing especially when you put this in context of how things used to be.  Incredible.

Aug 17, 2012 07:03 PM #7
Rainmaker
365,288
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Doug, exactly right...taking it all in perspective.

Jim, see you know what I'm talking about as today's rates are CHEAP indeed! I bet you thought your rates were pretty good back them?!

Richard, you lived it and ouch, I can imagine the payments but you're right; what was your choice?

Debbie, yes it just blows my mind! Under 4%! WOW!

Aug 18, 2012 03:33 AM #8
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
365,288

Lynn Pineda

Real Estate Promises delivered in SE Florida
What is your Real Estate question?
*
*
*
*

Additional Information