Mortgage rates have dropped to their lowest level in 16 months!
If you remember, interest rates climbed consistently throughout 2018 until the middle of November. During that time, a lot of buyers lost purchasing power and the housing market saw a slight stall as buyers pulled away from the market.
If you were in the market to buy a house last year, but got “priced out” and couldn’t find anything in your price range, NOW is a good time to talk to your lender again and find out how today’s lower rates have impacted your purchasing power!
Using the example above- you can see how a quarter percentage can have a $10,000 impact on your purchase price, AND impact your monthly payment as well!
June 3, 2019: The average rate on the popular 30-year fixed has fallen from 4.23% in May to 3.94% now, according to Mortgage News Daily.
Nobody can predict the future- they thought interest rates were going to be in the 5% range by now (which also probably scared some buyers away) but with today’s rates being the lowest they’ve been in a long time…. NOW is a great time to get back into the market!
Want to buy a house but don’t know where to start? I can send you my free Buyer’s Guide!
Homeownership for 2019 may be more of a reality, than a dream.
My motto: “If you don’t ask the question, the answer will always be “no” (or whatever you don’t want the answer to be).
If you want to know if you can qualify to buy a home, or how much home you can afford, you have to ask the question!