Saturday, June 8, 2013

1 Good Reason To Buy Now A Home In Arizona

1 Good Reason To Buy NOW A Home In Arizona

Mortgage Home Loan Rates are at an all time low, but they are slowly rising! And rising more... is near.

I have been saying this in the past, mortgage loan interest rates are at or near an all time low and trust me, it is true. However, recent signs point to the fact that mortgage lain interest rates rising and will rise some more. 

So if you are thinking of buying a home, why are you waiting? So the same house will cost you more?  am being a tad sarcastic here, but really, for every 1% rise in the mortgage rate for a $250,000/$300,000 home is the equivalent of about paying $10,000 more for the same house.

See my point?

So if your are contemplating buying a home, you now better make it a priority because not only mortgage loan rates are increasing, so are home values! A double wham-mo!

Better call me ASAP.

Of course no one knows for sure when interest rates do rise and how fast, but let me tell you my dear readers - hey sure won't stay where they are now for long. All you need to do is follow Federal Reserve's bond buying program and as unemployment numbers as they begin to come down.

And history also tells us that movements up in interest rates are generally much more rapid than the move down in interest rates are. Meaning that when we do hit a tipping point to move interest rates in the other direction, you will probably not have time to react before higher rates appear and stay.

There is currently many options for home loan mortgages with varying degrees of interest rates for variable degrees of home equity or lack of home equity, in addition to the various stages of life of a homeowner or potential homeowner. In other words, there is a mortgage for everyone out there with different terms and conditions.

The bottom line?  For most individuals, their mortgage is the biggest debt they have or will ever have. If you are not thinking about how to strategically decide how to manage that debt and take advantage of low interest rates, then you should be. Really.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

1 Good Reason To Buy NOW A Home In Arizona