With Rates as Insane as They Are Now, You’d Be Crazy Not To Buy NOW

Watch on your mobile device >>

Together with Adam Moshofsky from Mortgage Express, I wanted to share with you some insight into the current rates available on the market and how exactly they are impacting the market in general plus buyers specifically. Most of us have not seen rates this low in our entire lifetimes. And though our parents and their parents dealt with another financial picture during their prime years, anyone in our generation that is not stepping up to take advantage of this HUGE opportunity is downright crazy!

Achieving the American Dream

Some lending programs, like those centered on FHA loans, have great buyer concessions on top of the already low rates we are seeing in the market today. When you combine the very reasonable and obtainable 3.5% down payment required for FHA loans with today’s rates and incredibly low housing values – you get the magical combination spelled A-M-E-R-I-C-A-N D-R-E-A-M. This is a dream that has become a reality for so many Americans who otherwise may not have been able to buy a home.

More Money In Your Pocket, More House and More Long-Term Savings

You cannot beat the market right now with the kind of amazing deals buyers are getting these days. Now, more than ever, buyers and consumers in general are far more financially savvy than their parents the baby boomers or hipsters were. Most families are making responsible financial decisions, following programs introduced by now-famed financial advisors that preach being debt-free is the new “in thing”.

One of the best ways to secure long-term financial freedom is to get your hands on a solid investment that you know will provide long-term returns. There is nothing better than a good home, in a good neighborhood where home values are significantly higher than other areas. The phenomenal chance to own more house, while paying less and saving more is not going to last forever. Of course we do expect housing values to rise eventually and when they do, if you were one of the savvy consumers who chose to seize this once-in-a-lifetime real estate opportunity – then you will experience the best returns. Not only will you have paid off more of your mortgage in less time with the same payments but you will also end up with a better home.

When Rates Changing Weekly, Payment Amounts Also Change

Just a few short weeks ago when mortgages were being offered at an average of about 4.25% for a 30-year fixed rate mortgage, monthly payments were about $70 higher on average for the typical $250,000 home. With savings like these, homeowners can expect to lock in major benefits in the long-run by either using that extra cash where most needed or paying that much more toward their principal and drastically reducing their loan term and finance charges. Here is a neat amortization calculator that shows you just how making extra payments will impact your bottom-line.

It is for this reason that shopping for a very low rate when you know they are changing from week to week and day-to-day is the smart way to go. For those buyers who locked in their finance rate a few weeks ago, the payment is higher than based on today’s rates. Though you can argue that waiting is a good idea in case rates plummet further, reality is that they are more likely to climb back up rather than go down further. The moral of this story? Lock in your rate now, buy your dream house now, don’t let it become a situation of “almost buyer’s” remorse.
~
Any way you cut it – if you are even remotely in the market to buy a home you owe it to yourself to call a meeting with either Adam or myself to see how and where you stand in this unbelievable market. Things will not last like this indefinitely so before you live to regret it, at the very least you should find out the ‘what if’ of buying right now for you in your situation. Buying a house has never been cheaper. In fact, renting is a whole LOT more in many markets! Are you sure you want to miss out?

To find out more or to meet with Adam for a customized consultation, contact him at 541.337.3726 or email amoshofsky@mtgxps.com. And as always, I am available for any assistance regarding buying or selling your home or anything in between.

“The content here-in  is for informational purposes and is not an advertisement to extend customer credit as defined by Section 226.2 of Regulation Z.  Not a commitment to lock or lend, underwriting terms and conditions apply.  Mortgage Express, LLC is not affiliated with HUD/FHA/USDA or the federal government.  Equal Housing Lender  |   NMLS Company ID:  40831, OR ML #1952, WA #520-CL-49336, CA-DOC #4131043”