We’re bombarded every day —

home prices - up down stable“Home prices have dropped …”

“Home prices have stabilized … “

“Home Prices are Rising…”

The Real News:

Your Purchasing Power today

 

is Greater than Ever Before!

 

Mortgages have been under 4% for all of 2012, and this week borrowers who pay 0.8 discount points plus closing costs were able to get 3.32%  (average interest rate). This is an all – time low.

What does $2500 monthly payment yield?*

Historical Average Rate – 8.75%    =    $397,000 Purchase Price

Today’s Average Rate – 3.32%   =   $718,050 Purchase Price

This is an 81 percent increase in monthly payment purchasing power

for 2012

vs. the 40-year average!

*Based on 20% down

This is why everyone says it’s such a great time to buy. Never mind recovering home prices — mortgage rates are ridiculous!

So — if you’ve thought about buying any time soon… take the first step!

Call Anne Rossley of Baird & Warner

Call your real estate agent and your lender today!

Anne Rossley, CRB, CRS
Baird & Warner
773-620-5333

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