The Truth About Interest Rates

The Truth About Interest Rates

Hello it's Monica Diaz!  Welcome to my video blog.  Today I want to talk about interest rates and their relevance to the current market.

As you have likely heard recently, rates moved up a bit from the historic lows of early spring.  So what does this actually mean to the average home buyer or someone thinking about a re-fi?

In the overall scope of monthly payments and lifetime cost of the loan-NOT MUCH AT ALL.  It's important to look at everything from this macro viewpoint.  If any of my viewers can remember the market from 10 years ago, (where a 6.5-7% interest rate was something to be really excited about) we should all feel ECSTATIC about current average rates which are anywhere from 4.25-4.75% for 30 year fixed loans.  Doing the math, you are still saving more than $500/month on a similar loan of equal value based on rates from the mid-2000's.

So it's important to keep this is mind when attempting to decide whether you should buy/sell now or wait.

I am very confident if you choose to purchase or Re-Fi with Team Diaz, you will receive the lowest rate possible via our exclusive Lender friends at American Financial Network.

As always, if you ever know of a friend, co-worker, relative or even a member of your social communities like Facebook, interested in buying or selling property, connect with me today!

AND REMEMBER-"MONICA MAKES IT HAPPEN"!!!