Here is the latest chart on interest rates from Bankrate, Inc. Most of us are stuck in our homes upside down, but there are a fortunate few out there that are just entering the market as first time buyers. And there are investors and renters that are waiting for the right time to buy. There are many factors, some personal, that help people choose when to make a home purchase in the current market. Some of us follow home prices and the prices continue to drop, but recent sales show a growth in the number of sales. but what about interest rates? Are interest rates something to whatch and help make a decision as to when the time to buy is? Absolutely! A minor increase in interest rates can have a measurable difference to your mortgage payments. I love bars and graphs verses just stats because stats show a picture over time. The trend I see is that interest rates are starting to inch up. We all know that can't stay where they are forever. It would be nice, but not realistic. I guess my comment about the graph is that if you are considering purchasing a home now may be the right time while prices are low and interest rates are still low when compared to the past 10 or 20 years. When I graduated from college and bought my first home the interest rate was at 9%. I just helped a couple purchase their first home and their mortgage rate was 4%. I told them they wouldn't understand how low 4% is until they have lived a while and understand where interest rates have been historically.
Anyway, if you or anyone you know is interested in buying a home in the Tampa Bay area give me a call at 813.777.5332 or email me at RichKemper@kw.com. I specialize in the Brandon area which includes Brandon, Valico, Lithia, Riverview, Apollo Beach, and Plant City. I have a website for the community I live in, FISHHAWK RANCH or if you are interested in the other areas like Brandon, Valico, Lithia, Riverview, Apollo Beach, and Plant City the visit MY OTHER WEBSITE.
If you are an investor or thinking about becoming one and would like a FREE list of bank owned homes in the area send me an email at RichKemper@kw.com and I will send you a list!
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Rich Kemper
REALTOR, Keller Williams Realty
CDPE - Short Sale Specialist
PCS Military Relocation Specialist
Cell: 813.777.5332
Fax: 813.684.8400
Email: getrichquick2@aol.com
I don’t work from 9 to 5. I work from start to close!
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