Interest rates may currently be at a historic low, but they won’t remain that way forever. The cyclical nature of interest rates dictates that eventually the rates will rise again. It’s not a question of “if” so much as “when”. During the recession, interest rates dropped to around 4%(right now they are at about 4.5). A rough target for the average interest rate during a viable economic climate is around 7%.
You probably have heard that right now is the time to buy a home. Well I want to repeat that, without any hyperbole whatsoever, that now is absolutely the time to buy a home. If you wait too long the interest rates could skyrocket to normal levels, and it could mean the difference in how much you are spending on your home. As if paying more money for your home isn’t enough, when interest rates are up, homebuyers will also lose much of their purchasing power. Try thinking of it this way, if you’re looking to buy a home anyway, and buying now rather than later might result in you keeping $50,000 of your hard earned money, you would do it, Right? It’s an easy choice to make.
If you’re considering buying a home, you can’t afford to wait. Check out our website’s mortgage calculator, and get in touch with me at email@example.com today! Take advantage of these low interest rates before it’s too late!