Mortgage Rates are Greaaaaat!

Actually, that’s an understatement.  Take a quick look at this graph and you’ll get the idea.

mortgage rates 2016

 

The average rate across the nation for a 30 year fixed rate mortgage is just 3.65%.  That makes for a $643 monthly loan payment on the median average house in central Indiana (assuming a 5% cash down payment).  Ten years ago the rate was 3% higher and the payment on the same priced house would’ve been $902.  Now that’s a huge savings!

Today’s low rates help both buyers and sellers.  Buyers can purchase more house at a low monthly cost, and that allows more sellers to sell their properties.

If you’d like a hand understanding how you can take advantage of today’s low mortgage rates— call me.

 “I work harder to make good things happen!!”
  -Bob

Leave a Reply

Your email address will not be published. Required fields are marked *