So, you’re in the market for a new house. It could be your first home, or maybe you’re a move up buyer looking for a larger home for an expanding family. Whichever description best fits, I’ve just got one question for you,

WHAT ARE YOU WAITING FOR???

Let’s look at some facts:

Interest rates are at historic lows.

Read that statement again.

Interest rates are at historic lows.

In 1985, when I bought my first home, the interest rate on a 30-year-fixed mortgage loan was 13%. Yep, you read it right - 13%. Today, Mortgage News Daily lists the 30-year-fixed rate at 4.77%. On a $100,000 loan, the difference in P&I payment on a 13% loan vs. a 4.77% loan is $583.35!

On top of insanely low mortgage interest rates, housing prices are still low. In November, 2010, the median price of homes in the greater Kansas City Area was $132,200. This price was 6.1% LESS than the median price in November 2009. (Statistics provided by Kansas City Regional Association of REALTORS)

Low interest rates + Low median home price = The Perfect Time To Buy

WHAT ARE YOU WAITING FOR??

Got a question about buying a house or getting a mortgage? Email me today! mrathmel@gmail.com