Hilton Head Island, SC Real Estate Professional: March 2014

Now is the Time to Buy - Comparison of Interest Rates in Years Past

 

I really enjoyed this post from Joan Cox in Denver!

It isn't just for Joan's area of the country but for our Hilton Head and Bluffton, SC area as well. Contact me if you need the name of a local lender - but don't just take it from me, read Joan's post!

 

 

Home buyers love to talk about the interest rates!    Here is a brief post on "days past" with the interest rates by the decade Realtor.com had published.    Back in the last '90's the Denver real estate market was HOT and homes did not stay on the market long, and the rates hovered around 8%.     The days of 3.25% are gone, and buyers should no longer be thinking rates will decrease again.    

Interest Rates on the Rise 

  • 1970s
    Average 30-year fixed-rate mortgage: 8.86%
    Approximate payment on a $200,000 mortgage: $1,589
  • 1980s
    Average 30-year fixed-rate mortgage: 12.70%
    Approximate payment on a $200,000 mortgage: $2,166
  • 1990s
    Average 30-year fixed-rate mortgage: 8.12%
    Approximate payment on a $200,000 mortgage: $1,484
  • 2000s
    Average 30-year fixed-rate mortgage: 6.29%
    Approximate payment on a $200,000 mortgage: $1,237
  • 2014
    Average 30-year fixed-rate mortgage: 4.36%
    Approximate payment on a $200,000 mortgage: $997

 

What will 2015's interest rate bring?     With a full percentage increase from 2013, can you afford to wait another year?    Let Joan Cox with Metro Brokers - House to Home, Inc. guide you through the home buying process!

 

 

 

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, ABR, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

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Comment balloon 2 commentsSusan Jacobsen • March 28 2014 05:38PM
Now is the Time to Buy - Comparison of Interest Rates in Years Past
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