When could you pick a better time to buy, interest rates are low, sellers are motivated & the market is flooded. I've talked to multiple investor veterans & all of them say the same quote; "The county is on sale... take advantage of it."
I have placed a current interest rate chart below, take note the Fed will meet again on Jan. 30 to discuss another rate drop which there is a great chance it will continue to drop.
*Program | *Rate | *APR | Change |
15 Year Fixed Rate | 4.750% | 4.867% | -0.125% |
20 Year Fixed Rate | 5.125% | 5.319% | -0.250% |
30 Year Fixed Rate | 5.125% | 5.271% | -0.250% |
40 Year Fixed Rate | 5.500% | 5.489% | -0.375% |
3/1 ARM | 4.250% | 6.379% | -0.500% |
5/1 ARM | 4.500% | 5.167% | -0.500% |
7/1 ARM | 5.000% | 5.852% | -0.250% |
Jumbo 15 Year Fixed | 6.125% | 6.334% | 0.000% |
Jumbo 30 Year Fixed | 6.250% | 6.381% | -0.125% |
Jumbo 3/1 ARM | 5.500% | 8.206% | 0.000% |
Jumbo 5/1 ARM | 5.500% | 7.400% | -0.250% |
Jumbo 7/1 ARM | 5.500% | 7.012% | -0.250% |
FHA/VA 15 Year Fixed | 5.000% | 5.244% | 0.000% |
FHA/VA30 Year Fixed | 5.250% | 5.336% | -0.375% |
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