March 08 compared to March 09: Mortgage Interest rates are down over 1%, Gas prices are down $1.23 per gallon, and median home prices in the Northeast are down $40,000. What does this mean to a buyer every month??? About 376.00 savings per month , see chart below:
|
|
|
03-01-08 |
03-01-09 |
|
|
Interest Rate 30 Yr |
|
6.13% |
5.00% |
|
|
Median Home prices (North East) |
|
$268,000.00 |
$228,000.00 |
-14.93% |
|
30 yr mort Principal and Intrest )20%DP) |
|
$1,303.41 |
$979.16 |
-24.88% |
|
AVG Fuel Cost per month, per capita |
|
$111.96 |
$68.38 |
-63.73% |
|
Total Per Month 2008 vs 2009 |
|
$1,415.37 |
$1,047.54 |
|
|
|
|
|
|
|
|
Saving per month March 2008 vs 2009 |
|
|
$367.83 |
|
|
Breakdown of Fuel Estimates |
|
|
|
|
|
Gas Price per gallon 03-08 vs 03-09 |
|
$1.93 |
$3.16 |
($1.23) |
|
Anual liters of fuel comsumed |
1635.2 |
|
|
|
|
Anual Gallons of fuel consumed |
425.152 |
|
|
|
|
|
|
$820.54 |
$1,343.48 |
|
|
Gallons Per Month Per Capita |
35.43 |
|
|
|
|
Fuel Cost per month per capita |
|
$68.38 |
$111.96 |
|
|
|
|
|
|
|
|
Sources |
|
|
|
|
|
Department of Energy Information Administration |
|
|
|
|
|
International Energy agency |
|
|
|
|
|
http://mortgage-x.com/trends.htm |
|
|
|
|
|
NAR |
|
|
|
|
This is truly a great opportunity to buy. If you are a first time buyer you will get an 8,000 tax credit next spring that doesn't have to be repaid. There are still many mortgages being written with as low 3.5% down and a 600 fico score. Not to mention, there are more buying options than ever!!!
Licensed in MA and NH actively serving both markets as a buyers and sellers agent.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
