There’s No Better Time to Buy a Home
There’s No Better Time to Buy a Home!
I’m sure I’m not the only one who likes to take things slow when it comes to big purchases. Buying a new phone, acquiring the next vehicle, or financing a house - these are all expenditures that should not be taken lightly! I have cash in my wallet for a candy bar at the gas station, but my wallet might cry if I treated big purchases the same way.
So, with this kind of hesitation, that is good and to be expected as we deal with large sums of money, why is it now time to let some of these barriers fall?
“Craig, we have been considering the market for new homes, but we are comfortable with where we are now.”
“There’s a possibility we need to downsize in the near future, but we don’t know if we’re quite ready to start looking.”
Now is the time to reconsider and take a second look! Now is the time to make a huge investment into your mortgage for the future equity of your home. I am not exaggerating when I say that you could be saving tens of thousands of dollars if you consider buying or refinancing a home in today’s market.
Let’s look at some quick numbers. Based on weekly surveys done by 100+ lenders by Freddie Mac PMMS, the average mortgage interest rate dropped for two of three main loan types. 30-year fixed mortgage interest rates are sitting near 2.86%, and 15-year is down even further averaging around 2.42%! Take a look here to see the monthly trends graphed out over the last few months.
Unbelievable! I’ve heard horror stories from my brother (who freelances a lot of his time researching market trends) about interest rates that used to be skyrocketing near 16-20% in years past! To see them so low is cause for celebration. And yes, (to those who might be wondering) the interest rates are already on the hike back up to where they were before the COVID Pandemic started, so don’t waste this opportunity!
My wife and I sure didn’t! After refinancing our home, our interest rate dropped from 4.25% to 3.375%. May not seem like much at all, but after doing the math, our financial advisor informed us that this was the equivalent of $55,000 over the long-haul of paying off our home. It’s amazing how such a small decrease in percentage can lead to a monumental sum of cash that will rightfully stay in our pockets.
Now is the time to seize this chance and save loads of your hard-earned money. Working with us at AgentOwned makes your home buying experience feel more like a real success story in the making, rather than another outlet for your bank to seep out your cash. Take the educated leap of faith, and work with me to master this current market, so we can look back together in less than 20 years (when we’ve paid off our mortgages early) and toast to thousands of dollars in savings that wasn’t lost to bad financing.