BUYER’S COSTS INCREASE BY THOUSANDS
Interest rates have increased nearly ½ a percentage point in the past month from 4.17% to 4.61% on average. Prospective buyers should examine the attached chart carefully and keep in mind that a 2% interest rate increase will cost them an additional $129 every month per $100,000 financed. No one knows how high the interest rates may go, but it makes little sense to pay your mortgage company tens of thousands — or even hundreds of thousands — of dollars more than you have to over the life of a 30 year fixed rate mortgage. Low interest rates, declining inventory, increased sales, and improved employment and economic conditions will likely cause reluctant buyers to lose the lowest price, best rates, and best selections.
Our Advice? Buyers should buy NOW!!!