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%.
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
The highest compliment I can receive is a referral from friends and clients