Picture yourself here.
According to Freddie Mac, mortgage rates went up slightly from 4.22% to 4.26% as of today, November 12, 2015. Only up 4/100 of a point from a few weeks ago on a 30 year fixed mortgage. About 9 bucks a month more on a $400,000 note.... $2,616/month
As a Realtor, I often discuss interest rates with 1st time buyers. They also ask "how's the market?" My response is usually, "The market is definitely prime if your appropriately positioned. Just don't wait any longer to get in. Interest rates are on the floor right now." If you're a close friend, I use other adjectives.
I understand that there is fear and hesitation. Buying your first home is a colossal event and takes a great amount of thought. But overthinking it will cost you.
9 bucks. Not a lot of money, but still exciting when I find it in my dryer. Or in last years winter coat. 9 bucks is 9 bucks. Better in my dryer than paying it to the bank.
Here is the thing with interest rates: In the early 1980's, interest rates were over 15%. They were. Google it. Better yet, here is a link. Mortgage Rates
Same $400,000 note at %15.... $5,704/month.
Did that get your attention?
If you are in a position to buy your first home, do it. The conditions are not going to get any better.
Find yourself a great Realtor. If you're in Los Angeles, call me.
My job is to walk you through the process and provide you with any information and all options available so that you can make an informed decision and a purchase you will feel amazing about.
I'm easy to find:
www.AndyMartinezJr.com
Your Real Estate Agent,
Andy Martinez Jr.
CalBRE# 01978202
Cell: (310) 597-2089
Keller Williams Realty
