Do You Know the Impact Your Interest Rate Makes?

Homes are more affordable because of low interest rates.  When you compare how much house you can buy with The Past 31 years you can see when interest rates were as high as 12.17% the home you could afford was $95,750 if you wanted to keep your monthly mortgage payment under $1,000.  In 2000 when interest rates were 8.12% you could afford up to $134,500 to keep your monthly payment under $1,000.

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Now in 2016 if you lock an interest rate in at 3.43% you can afford a home at $224,500 and your monthly payment will be $999.35.  The average home in America is right around this $220,000 range.  

You can keep your monthly mortgage payment under $1,000 with interest rates at an all time low.

Ready to Take advantage of the Low Interest Rates?  Contact Jay Cermak Top Fort Lauderdale Real Estate Consultant with Keller Williams Realty at 954.235.3589!

Serving all of your South Florida and Fort Lauderdale Real Estate Needs!