It seems like I have been saying this for years but now would be a fantastic time to buy a property. As interest rates drop the payment on the mortgage falls. What is surprising is how much. Say you have a $300,000 mortgage at 6% right now. 6% used to be a great rate. Anyway, right now for the same amount of monthly payment you can purchase a home with a $375,000 mortgage. That is $75,000 of free money! The effects can even be more dramatic if you have been in your home and have accumulated some equity. I am working with a buyer now who is purchasing a home $150,000 greater than their old home and their payment will be virtually the same. Did I say this is a great time to buy?
Interest Rates Super Low – Affordability High
Neil Kearney has been a Realtor in Boulder since 1991. He is the Broker/Owner of Kearney Realty Co. which is located in downtown Boulder. He specializes in residential real estate throughout Boulder County and serves the communities of Boulder, Broomfield, Louisville, Lafayette, Erie, Superior, Longmont, Niwot and Gunbarrel. The information on this website has been written by Neil and it represents his research and opinion. The statistics are based on data from IRES MLS system. Thanks for visiting.