With Interest Rates This Low it is a Great Time to Buy

Mortgage interest rates have fallen to historic lows and there is a good supply of homes in the Page Lake Powell market, making now a good time to buy.

Bloomberg.com reported yesterday

Mortgage rates in the U.S. fell for a fourth week, with the 15-year average hitting a record low, helping to strengthen the housing recovery.

With 30 year fixed rates hovering around 3.4% and the 15 year fixed at 2.61% rates have hit a historic low.

While home availability is tightening nationwide, the Page Lake Powell area has a good supply of homes to choose from and with these extremely low rates, buyer who have been waiting for the right time – that time looks to be now.

For a $200,000 dollar house with 10% down these rates look like this:

Principle and Interest Payments for a 30 year fixed rate come in at $798.00

Principle and Interest Payments for a 15 year fixed rate come in at $1,210.00

To both of these numbers you need to add in the taxes and insurance.

Want to know more? Give me a call at 928-691-6444