Mortgage Rates Again at Historic Lows

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Just two weeks ago, we posted an article discussing where mortgage interest rates may be heading over the next twelve months. We quoted projections from Fannie Mae,Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016.

However, shaky economic news and a volatile stock market have actually caused rates to drop six out of the last seven weeks, and have remained at 3.65% for the past two weeks.

Rates have again fallen to historic lows yet many experts still expect them to increase in 2016. The only thing we know for sure is that, according to Freddie Mac, current rates are the best they have been since last April.

Bottom Line

If you are thinking of buying your first home or moving up to your ultimate dream home, now is a great time to get a sensational rate on your mortgage.

Thinking of Buying or Selling?  Jay Cermak Top Fort Lauderdale Real Estate Agent with The Edwards Real Estate Group at Keller Williams Realty can help!  Schedule a FREE Real Estate Consultation and we will educate you on the current home buying or home selling process, Conduct a Needs analysis to understand exactly what you are looking for and connect you with great vendors such as mortgage to ensure a smooth Real Estate Transaction!

Call or Text Jay at 954.235.3589 today!

Why You Should Stop Renting & Buy a Home Today!

There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home.

Housing Cost & Net Worth

Whether you rent or buy, you have a monthly housing cost.

As a buyer, you are paying YOUR mortgage.

Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.

As a renter, you are paying YOUR LANDLORD’Smortgage.

Below is an example of the home equity that would be accrued over the course of the next four years if you were to buy a home by the end of this year; based on the resultsof the Home Price Expectation Survey.

In this example, simply by paying your mortgage, you have just increased your net worth by over $34,000!

Bottom Line

Use your monthly housing cost to your advantage! Meet with a local real estate professional who can explain the opportunities available in your market.

Contact The J Team Fort Lauderdale and schedule your homebuyers consultation! 954-235-3859.  Let us help you come up with a roadmap to purchase a home.  We have solutions to help you like credit repair and School Loan Forgiveness program to reduce monthly payments.

Search Fort Lauderdale Homes for Sale online now at Http://JTeamFL.com