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Real Estate

AtoZ by Cory Christians

Current interest rates are something to take notice of. Current rates for 30 year fixed rate mortgages hover around the 4.25% range. Fifteen year fixed rates around the 3.5% rate. The Federal Home Loan Mortgage Corporation (Freddie Mac) announced this week that rates hit a 40 year low. So why take notice? Rates at today’s levels allow you to buy the most home for the lowest principal and interest payment. As an example, at the current 30 year fixed rate level a $100,000 loan would cost $492.00 per month. If rates were to get to be 2% higher, (still a historic low rate) the same loan would have principal and interest payments of $616.00. The difference of $124.00 per month. Also consider owning your home in 15 years rather than 30 years. At today’s 15 year fixed rate loan, your monthly payment would be the same as a 30 year loan at 7%. Based on today’s rates, your 15 year loan on a $100,000 home would be $715.00 Your own home is a lot more than just payments and numbers. But the numbers are currently in your favor. Now is the time to be visiting with me about the possibility of a new home. Please call or email today for a no obligation visit about how the current interest rates would affect your monthly budget. I pledge to provide all the needed information in helping you make the best decision for you. You can reach me at 308-233-4553 or cory@century21midlands.com.

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