Get more house for less with reduced mortgage rates

Elgin Fox Valley – A new report from the Washington Post indicates that mortgage rates have dropped to their lowest point in six months to 4.21%.
http://www.washingtonpost.com/blogs/where-we-live/wp/2014/05/08/thirty-year-fixed-mortgage-rate-sinks-to-six-month-low/

These are not your grandparents’ rates for home mortgages.  Home buyers today enjoy the lowest rates (still) across the board on mortgages and have been accustomed to under 5% for more than a decade.  Back in the 1980’s rates flew into the double digits and sat there for a while.  When was the last time your home mortgage rate compared favorably to a car loan?  Home buyers can buy homes for less than a new car payment here in Elgin and parts of the Fox Valley area.

 

Infographic by allthingsfinance.net

There is never a “perfect” time to sell or buy, but consider this, these rates are not likely to last into the next decade, so why wait?

Contact a local residential real estate broker today and get a free market analysis on your neighborhood today!  Don’t have one?  Ask me for a referral to personal Realtor.

Jennifer Kinzle, e-Pro
Charles Rutenberg Realty, Elgin Fox Valley
Jennifer@ElginFoxValley.com
The highest compliment I can receive is a referral from friends and clients

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