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Are Interest Rates More Affordable Today?
Manage episode 150703255 series 1004398
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The Omaha area has an excellent variety of homes within a vibrant market of both buyers and sellers. If you're considering purchasing property in Omaha, GO HERE to perform a Full Home Search, or if you're thinking about selling your property, CLICK HERE for a Free Home Value Report. For any other questions you have regarding current market trends or your own home's value, please don't hesitate to call me at (402) 614-6922, or email me at adam@brileyhomes.com.
Since the new year has begun, we've heard a lot of talk about interest rates. People have been constantly asking us where they are now and where they are headed, so we thought it was a good idea to update you on the latest facts and statistics in the mortgage world.You can usually get a good picture of the status of interest rates by looking at the numbers for 30-year fixed mortgages. Back in 2013, we saw rates down to 3.875%, but by 2014, they had risen to nearly 4.5%.
These rates won't last, though. Most economists are predicting rates to rise in the next year, and we very well may be near 5% by the end of the year. Locking in a rate now is going to save you hundreds of dollars a month in your mortgage payment, not to mention tens of thousands of dollars over the life of the loan.
If you have been thinking about buying in the past few years, now represents your best opportunity to get an affordable home with an even more affordable interest rate. If you have any questions, or would like to discuss this topic further, give us a call or send us an email. We look forward to hearing from you soon!
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