Deal Of The Century

Dated: 04/29/2015

Views: 992

The Deal of the Century?? | Simplifying The Market

Recently, Freddie Mac published a blog post titled Mortgage Rates: Still the Deal of the Century. They explained that, if you are planning to purchase a home, now may be the time:

“If you are in the market to buy a home, today's average mortgage rates are something to celebrate compared to almost any year since 1971.”

And they let their readers know that there is no guarantee that rates will remain this low:

“Over the past few years, we've enjoyed a long run of historically low mortgage rates. While no one expects them to change dramatically overnight, they are expected to head up. Most experts agree that mortgage rates will drift up in the coming months to end the year approaching 4.50%... Buying a home is a big investment – perhaps the biggest one you'll make in your life. So, it's important to be sure you are ready to make that purchase. If you are ready, today's rates are not to be missed.”

The article went on to calculate what the principal and interest payment would be based on a $200,000 fully amortizing mortgage at different times in history.

Mortgage Payments | Simplifying The Market

Here is a look at rates over the decades:

Historic Mortgage Rates | Simplifying The Market

Here is a look at rates over the last four years and what Freddie Mac projects for next year:

30 Year Fixed Rate Mortgage Rates | Simplifying The Market

Bottom Line

If you are thinking of buying your first home or looking to move up to your dream home, now may be the time to do it.

Latest Blog Posts

Best Time To Sell When Competition Is At An AllTime Low

Best Time to Sell? When Competition Is at an All-Time LowIn a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because

Read More

Taking Advantage Of Homebuying Affordability In Todays Market

Taking Advantage of Homebuying Affordability in Today’s MarketEveryone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding

Read More

New Index Reveals Impact Of COVID19 On Real Estate

New Index Reveals Impact of COVID-19 on Real EstateEarlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the

Read More

Three Reasons Homebuyers Are Ready To Purchase This Year

Three Reasons Homebuyers Are Ready to Purchase This YearA recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of

Read More