Wednesday August 3, 2011
A recent article by John Burns Real Estate Consulting highlights an important fact for homebuyers:
Buyers who are waiting to buy a home are risking being “priced out” of the market.
Rising mortgage rates and tightening mortgage standards will make it more expensive for home buyers to purchase a home – even if “purchase prices” go down.
Currently, monthly payments for your new home purchase are at fantastic lows – but rising mortgage rates mean these lows will be short lived!
Just think: if mortgage rates go up by only 2%, your monthly payment on a $200,000 home will increase by 25%. Take a look:
Are you pricing yourself out of the market by waiting for the “perfect time” to buy? Find out more about great financing opportunities by visiting our preferred lender, Eaton Mortgage.