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Thursday, June 13, 2013

Alert! Time To Buy Now In Arizona

From (CNNMoney):

"Mortgage rates moved to within a hair of the 4% barrier this week, according to mortgage giant Freddie Mac.

The average rate for 30-year, fixed-rate loans rose 0.07 percentage point to 3.98%, and is up 0.63 percentage point since the week of May 2. Rates have not been this high since the week of April 12, 2012. 

"Fixed mortgage rates crept up further this week following a solid employment report for May," said Frank Nothaft, Freddie Mac's chief economist." Read it here ...

So if you are thinking of buying a home, why are you waiting? 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.

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.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Alert! Time To Buy Now In Arizona