The time to buy a home is now. Never have sellers been more flexible or financial terms more favorable.
Lower mortgage rates
Right now 30-year fixed mortgages are lower than they've been in five years and as low as they've been at any time since 1973.1 On Wednesday, December 10, rates hit 4.875%. Just four months ago rates were at 6.29%. The difference to you? Now you can either buy the home you've wanted while paying less than you planned or buy a higher-valued home for the same payment you originally budgeted.
Example 1: Four months ago a $320,000 loan would result in monthly payments of $1978.63 (not including taxes and insurance).2 NOW that same loan amount would cost $1693.47, a savings to you of $285.16 a month.3
Example 2: Four months ago the $1978.63 payment would have bought you a $400,000 home (after a 20% down payment). Now that same payment will buy you a $467,000 home.4
1Source: Freddie Mac. 2 Assumes a down payment of 20% and a 30-year fixed rate. 3 Source: Landover Mortgage. 4 Source: Landover Mortgage.
You can obtain neighborhood and community profiles from our website, www.integrityteamrealty.com. If you would like market trend reports with information on current and historical prices by neighborhood or zip code, we will be glad to prepare those for you.
Contact your Integrity Team today! rickbutt@cbbain.com / 206.940.8384 damoncampbell@cbbain.com / 206.940.8728
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