It’s no secret; interest rates have been historically low the past two years. The rapid decline in the housing market caused interest rates to plummet in recent years. With the real estate market recovering, it stands to reason that interest rates would climb steadily. However, that is not the case. Home buyers can still lock in fantastic rates.
In the early 2000’s, it was not uncommon to see rates of 6.5% or higher. Then, rates dropped into the 5% range. Today you can lock into a 30 year fixed mortgage at 4.25%. Or, for government backed loans such as FHA and USDA, you can lock in at an incredible 4%.
Do not miss the boat on these low interest rates. Now is a great time to buy. Let me help you.
Lee Hamilton
Allen Tate Realty
803 322 4340