By Guest Blogger, Prudential Carolinas Realty
Homeownership is the American dream, and there may never be a better time to buy than today. Even without the first-time and repeat buyer credit, there are still incredible opportunities in today’s housing market, including historically low mortgage rates, great selection of inventory and affordable pricing.
Here are some reasons why it’s a great time to buy and why you should act now to get the best deal.
Mortgage interest rates are at an historic 40-year Low
The last time mortgage interest rates were this low, Dwight Eisenhower was playing golf on the White House lawn, and the magical invention of television was capturing the attention of families everywhere. Curious whether today’s historically low rates can benefit you? One of the biggest decisions of your life revolves around your home and your mortgage. Now more than ever, buyers can take advantage of low mortgage payments right now given the attractive interest rates being offered. A 4.25% fixed rate 30 year loan has a rate factor under $5 per $1,000 borrowed. This means that you can borrow $100,000 and your principal and interest payment is under $500 per month!
Great selection of homes to choose from at unbelievable prices
No matter what price point you are looking for, in today’s market you can get more house for your money. The home you have always wanted is more affordable today and it may not be as affordable tomorrow. There are more choices of homes on the market, with a better chance of getting the home that fits your needs, without the super-stiff competition from lots of other buyers as was seen in years past.
The opportunities are endless – when was there a time when home buyers had the triple play – low interest rates, high inventory and low prices? It’s an amazing opportunity for buyers to find the home of their dreams at a price they can afford. Home Sellers are seeing the same opportunity to move into a new home with lower interest rates. Now more than ever, is a great time to buy a home.