HISTORIC LOW RATES

The current low mortgage rates are great news if you are looking to buy a new home. This summer and fall saw stiff competition for home sales. However, with fewer people considering a winter move, right now could be the perfect time for you to snag the home of your dreams.

IT'S A GREAT TIME TO BUY A HOME

The interest incredibly low, and right now is a great time to buy a home. If you've looked for the right home but haven't found a home that suits your exact needs, consider new construction. Although the cost of building a new home is currently high, your monthly payments would be lower with the current low-interest rate. The monthly payment difference between 3% and 4% can be $200 to $300 less per month depending on the loan amount. Those numbers add up! Investing in a new home now will help you lock in the low mortgage rate that will save you money for the entire life of the loan.

If you're not in the market to buy but want to take advantage of the low rates, consider refinancing your current mortgage. Refinancing can help you reduce your monthly mortgage payment, tap into the equity in your home, reduce the loan's length, or even get rid of mortgage insurance. Our RealtorsĀ® can help you connect with the right company to refinance your mortgage.

THE RIGHT AGENT IS YOUR SECRET WEAPON

There is no guarantee that waiting for spring to begin your home search will pay off in the end. When you are ready to buy or sell, we are here to help. With Mike Thomas Associates, you'll have an advocate putting your needs first. We know the local market inside and out and can help you get the best value for your hard-earned money. Give us a call today!

*chart from freddiemac.com

#Buying #Finance

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