Mortgage buyer Freddie Mac announced recently that rates on a 30-year fixed mortgage rose to 4.72 percent and warned that they would rise again soon. That rate was already 3.4 of a percent higher than at the start of the year. Then, last week, they rose again. Freddie Mac reported just days ago that the average 30-year- fixed-rate mortgage rose all the way up to 4.9 percent! That’s the highest since 2011.
So, while you might think that you want to wait to buy a house until home prices drop, that’s not likely to save you money in the long run or month-to-month. If rates continue to rise, as they are predicted, that would be more costly than a higher purchase price. At least not if you plan to finance the home like most people do in the country.
Did you know that for every 0.25 percent that interest rates rise, the cost of the home you’ll be able to afford actually declines by 2.5 percent! So, if you’re considering buying a home any time soon, call us now so we can get you into a home before rates jump again!
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Are You Ready to Buy a New Home Now?
If you’re interested in moving to a community near Evansville or Jasper, Indiana, check out our listings. Become familiar with the area. Before you start shopping for a home in Indiana, it’s a good idea to explore areas you might like to live in — that way you can get a feel for what properties are available and how much you’ll need to spend. We’ll help you find homes for sale in the most beautiful parts of Indiana.
Let us know if you want us to be on the lookout for Evansville or Dubois County homes with solar arrays, geothermal systems or other green upgrades too!
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Thinking of Selling Your Dubois County Home?
On the other hand, if you’d like to sell your Dubois County real estate, we’d love to help with that too! We offer a completely FREE Comparative Market Analysis (CMA). Zillow’s zestimates can be off by as much as 12 percent! Obviously, to make any decisions, you need to know the actual value of your property, right? A 12 percent difference could be a deal breaker when it comes down to it. Yet, if you contact us today, we can get you a detailed report and the estimated value for your home based on today’s market. Plus, we can get that to you usually in less than one day. So, request your FREE home valuation for your Dubois County home today!