Gwen Fowler Real Estate, Inc.®

Did You Notice

Posted By @ Feb 15th 2011 12:15am In: Interest Rates

Did you notice the interest rate change?  November 20th the rates were 4.17%.  February 7th 2011 the rates were 5.05%.  Did not see the report on Fox, CNN or any of my local stations, but the rates have started to creep up.

Don't really think it is alot?  Look at what a difference it makes.  If you were looking at a mortgage for $170,000 in November the principal and interest payment would have been $828.36.  Today if you are approved for the same loan of $170,000 the payment would be $917.80.  That is a difference of $89.44 per month. $32,198 over the life of the loan.

What are you waiting for?  House prices have increased for the past 3 quarters and now interest rates are increasing.  Waiting can put you out of the house market if you are not careful.  Call today, we have some really good buys to show you.



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