Mortgage rates continue to go lower.
According to Key Savings Bank a 30 year fixed rate mortgage is down to 4.275%.
How does a lower interest rate translate into more buying power for you?
$100,000 mortgage at 4.275% = $493.40 payment
$100,000 mortgage at 5.275% = $553.75 payment
Not only does a lower interest rate mean a lower payment, but it also means an increase in your buying power. Purchasing a new home with a 4.275% rate allows you to purchase a home for $112,000 for the same payment as a $100,000 home with a 5.275% rate.
INCREASING your buying power by 11%!
No matter what your goal, a low rate means only good things for you.
The question that everyone wants to know is: What’s the next move for interest rates? Higher or lower?
The answer is–we don’t know. What we do know is rates will go up faster than they fall.
PHONE: (608) 542-0178
My name is Adam Holberg and I’m a Realtor with First Weber of Wisconsin Rapids. This website is designed to inform and help bring conversation to a topic I love, real estate.