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Tag Archives: Interest Rates

Are Interest Rates Expected To Rise? – NOW IS THE TIME TO BUY!!

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Here are some clips from articles I’ve read regarding the expected trend for mortgage interest rates.  Call or email Gabe Fitzhugh at (386) 754-2818 for questions on real estate in Lake City FL and other areas of North Florida and North Central Florida.

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Mortgage Rate Trend Index – Only 8% of industry experts polled this week by Bankrate.com expect rates to decline over the short term, with most (67%) anticipating an increase. The rest (25%) foresee little change.

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Mortgage rates trend upward after ‘cliff’ deal

Mortgage-rate increase should be slight.  Mortgage rates are being lifted by what is arguably more optimism than is warranted at the moment, given the issues at hand, but the momentum seems to be slightly upward at present. That is expected to continue into this week. Rates are likely to see another mild rise, numbering in perhaps a handful of basis points, but there is no reason at present to expect any huge change.

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Rising Mortgage Rates “Unlikely” To Affect Housing Recovery

Experts are predicting mortgage rates to will finally begin to pick themselves up later this year, and when they do, it’s likely that the higher rates will affect move-up home buyers and curb refinancings.

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The best time to buy real estate since the 1970′s

 

Home affordability is the best in 40 years!

I’ve been reading several blogs and articles relating to home affordability lately.  It’s very interesting reading!  According to the National Association of Realtors, home affordability is the best it’s been in 40 years!   Due to falling home prices and record low mortgage rates, home ownership is now within the reach of more families then ever.  Homeowners are now bringing in double the income needed to cover the cost of an average home.

I published a blog post back in 2008 which mentions that (at that time) it was the most affordable home ownership period in 35 years, and it’s only gotten better!  Just compare the median price of a home, interest rates and qualifying incomes and you’ll see how buyers should really consider purchasing a home right now.  If you’ve been on the fence trying to decide when to buy, don’t consider price alone.  If you are purchasing the home with a mortgage, think about today’s interest rates and how they effect your affordability factor and then consider purchasing.

I looked at the interest rates being offered today, and you can get a 15 year fixed rate mortgage for 3 percent!  Wow! …and a 30 year fixed rate FHA mortgage is 3.75 percent!

Contrary to popular belief, banks are still lending, interest rates are low and it is a great time to purchase a home!  There are even loan programs that will get you into a home with no down payment!  Don’t let this opportunity pass you by!

Gabe Fitzhugh, Realtor in Lake City Florida

 

Call Gabe Fitzhugh for more information:

Call: (386) 754-2818

Email: gabefitzhugh@gmail.com 

Selling homes in North Florida… Lake City FL and the surrounding areas.