EDGEhomes Blog

Sep 23

Why Buy Now

Impressed by LOW

interest rates?

you should be…

In a recent article featured in TIME Magazine

Tim Iacono of Iacono Research points out that “The lower interest rates have increased home buyers’ purchasing power and boosted affordability“.

“Even if mortgage rates moved back up to their 20-year average rate of 6.5 percent, that same $1,100 mortgage payment would finance a home purchase of just $193,000, not the current $279,000,”.

Source: “Is The Housing Recovery Just an Illusion Created by the Federal Reserve?” TIME (Dec. 7, 2012)

* DISCLAIMER: The figures shown represent monthly principal & interest payments only. Monthly taxes, home owners insurance, and Mortgage Insurance are not included in this amount. These figures are based on a Conventional mortgage loan with a 5% down payment and are based on a 700 credit score. These are estimates only and not guaranteed payment amounts.

Live Chat