As a real estate agent we always see what kind of rates our clients are getting from various lenders. There is definitely a rise in interest rate. 6 months ago you would get a rate in the low 3%s but now we are seeing rates above 4%. If you’ve thought about purchasing but have stalled and “been on the fence” you are going to miss out on these unbelievable low rates this year. We have also seen the home prices on the rise because there were so many great deals. Don’t get scared about the current interest because it’s still a great rate just be aware of what’s going on.
If you were looking to purchase a home in the $180,000 – $200,000 range you will be looking at payments around the $1400 mark. When you think about how much it is to rent a 3 bedroom apartment you are looking at a very close amount. So you tell me what the wise decision should be. It’s time to get of the fence and buy. Give me a call at 678-805-SOLD and let me walk you through the process of home ownership.