Mortgage interest rates are at an all-time low!

Mortgage interest rates are at an all-time low If there was ever a “sweet-spot” for real estate buyers, it’s now. Home Prices are lower than they’ve been for a long time and couple that with all-time low mortgage interest rates, real estate buyers are standing in the Sweet Spot. If you’re waiting for the Housing Market to “Bottom” before you buy, I encourage you to investigate the difference between the payment on a home at today’s rate vs the payment if rates went up 1 point and prices fell 1%. Example Today: $165,000 Loan Amount = $836 per mo. @ 4.5% 30 year fixed $163,500 LA (1% lower price) = $928 per mo @ 5.5% 30 year fixed The bottom line is that we don’t know if rates will go up, but by merely looking at the graph we see that the all-time historical mean for mortgage rates are 8% plus, I might not want to wait to see the “Real Estate Market Bottom”, especially since my payment could be considerably more with only a slightly higher mortgage interest rate.