Home Buyers...just shy of a month ago interest rates were at 5.25% on average and now hover around 6%. On a $200,000 home with a 30 year fixed mortgage that equates to an additional $94.70 a month more than a month ago and means, based on a 5.25% rate vs a 6% rate a house worth $17,150.00 more in upgrades on a new home or the eqivalent in more home if you are looking to buy a resale. Don't beleive me...then click HERE and use a mortgage calculator and see for yourself! HOME BUYERS...MAKE YOURSELF AWARE With the latter in mind, consider this...we are coming into a spring market where there will be more buyers looking for homes which will begin to stabalize listing prices on existing homes and new builds for a period, but moreover, consider this...Lenders (investors) have taken quite a hit with foreclosures and short sales and even though the Federal Reserve has lowered the rate they charge banks for loans, long term interests rates are rising. Do you wonder why? Of course you do! Investors (Lenders) have lost a great deal of money and are attempting to recoup some of their losses by raising the bar on credit scores and down payments and most importantly borrowing money at a low low rate and increasing long term rates to recoup these losses. What does this mean to you? It means that you should put your thinking cap on and read and reread this post and get your Real Estate agent searching for that home you have been putting off ... NOW! Interest rates are still good at this time but the trend is that they may continue to increase as lenders attempt to recoup their losses from foreclosures on the backs of buyers...so jump in and Buy. In this current market, he/she who hesitates will take losses! have more questions or concerns??? Call Don Lantier at 770-434-7302 or 77-309-5297 or
SEARCH HOMES FOR SALE IN COBB COUNTY, GEORGIA
the folks at Lantierrealty.com
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