I don't know about other agents or how long they say they have been selling real estate, but over the past week I have been inundated with the most incredible mortgage rates I've seen since the 1960's. Loan officers, news articles are all talking about ow gret they are. They are so good that the phones should be molten white hot with buyers calling to buy homes before rates start to buy. However, in my market the phones are pretty quiet. Other agents are telling me they are dead too. I have also heard that form foreclosure specialists, receptionists in several real estate offices and lawyers this week! What gives?
Opportunity in real estate begins with a great price, and gets only better when you top it off with incredible financing. With rates as low as 4.5% for conforming 30 year fixed mortgages the monthly carrying charge would be cheaper than most rents. Buyers that miss out on this market need to look themselves in the face down the road, and they will have no one to blame but themselves that they did not act.
On a 200K Loan for 30 years conforming loan.
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At 6.5% - The monthly PI is $1,264.14 Interest on A 30 Year loan is $255,088.98
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At 4.5% - The monthly PI in $1,013.37 Interest on A 30 Year loan is $164,813.42
RE/MAX Paramount Properties 678-595-5283 Direct
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