This morning, January 3rd, 2020, we show 13 new listings in the last 3 days. Only 13! Total, 13, in the last THREE days!
Needless to say I got right back to work yesterday contacting my peeps to see who they know that is considering selling a home so we can increase our inventory. Oh, yes, on December 31st, our inventory was at 351 for active listings. That's barely a one month supply.
So, now the other part of this post, was reading...yet again...about interest rates. The average is 3.72%, 3.72% for a traditional 30 year fixed loan according to the Freddie Mac Primary Mortgage Market Survey!
Now, remember, that rates will vary based upon your personal FICO scores, your debt to income ration, whether you're buying a single family home or a condo/townhouse. And, if you want to pay some points, you can even frequently get it lower.
But, shit howdy, 3.72% for a 30 year fixed mortgage?!?!?! Yes, I really said shit howdy! Last year same time it was 4.51%.
Quickie calculation on a 500k home with 20% down.....
At last years 4.51% - payment would be $2029.12 / At 3.72% - payment would be $1845.66
So, what's that? A difference in mortgage payment of $183.46/month. Um, let's say you only keep that home for 10 years.....you'd save $22,015.20. That's a few incredible vacations! And, if you stayed for 30 years? Well, you know....a lot! I could go on about paying an extra $50-100 per month, how much you'd save in interest payments on your mortgage too. But, for that, you're gonna need to chat with me. And, I'll put you in contact with one of my fave lenders for them to do the math based upon your personal financial snapshot.
Not buying a home with these incredible rates just doesn't make any sense. Remember, you don't have to put 20% down. There are tons of loan programs out there, tons of incentives. And, shit howdy again....3.72%?!?!?!
Call/Text me @ (661) 313-5470 ~ Let's Do This!
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