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Interest Rates Near All Time Lows

Low Interest Rates

Interest Rates Near All Time Lows

Recently we’ve seen interest rates fall drastically. Prior to 2020, a 4.25% APR interest rate was pretty solid and compared with previous years was quite low. However, during 2020 we saw interest rates plunge into the 3’s and some loans even under a 3% interest rate. Today, we are seeing most of our clients lock in their interest rate between 3.25-3.75% APR. You can keep up with current releases of interest rates HERE.

What do low rates mean for you as a buyer? Low rates translate to a lower mortgage payment or you can qualify for a higher price point. On a $250,000 home, a difference of 1% on the interest rate is the difference of nearly $150! Below you can see samples of zero down loans with an estimate of the all-in monthly cost. This assumes a $250,000 home with zero down. The first image reflects a 4.5% rate from two years ago versus a 3.5% rate that buyers could see today. It also includes taxes, insurance and estimated PMI payments.

     

With rates so low, it’s a phenomenal time to buy a home. Reach out today and let’s start the process for you!

Sean Nance
Broker/Owner
Serious.
(469) 319-0941
Sean@SeriousHomes.net

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Serious. agents are experts in the new construction process. Our home buyer services will never cost you a dime and are paid in full by the home builder at the time of closing. Help us understand your needs and we’ll fight on your side from dirt to home. When working with us you’ll get:

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