We’re bombarded every day —
- Home Prices Hit 9-Year Low
- Home Prices Drop for 6th month in a row
- Cities Where Home Prices are Still Dropping
“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
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 your real estate agent and your lender today!Anne Rossley, CRB, CRS Baird & Warner 773-620-5333