Local Real Estate Comments and Ramblings

head_left_image

Holy Cow! Rates are so low ... What are you doing?

Holy Cow! Interest Rates are low!



Image by "gamerscore" on Flickr Creative Commons



As you may have heard the government has taken some pretty drastic measures to reduce interest rates.  This has been done to try to stimulate the housing market and the economy in general.  The current interest rates could create an unprecedented buying opportunity. The combination of super low rates and depressed housing prices could mean a great opportunity,  if the time is right for you to become a home owner.

 I think the long term effects of these actions will be beneficial but there is also a great short term benefit.... Refinance now and save $$$$$.   If your current mortgage interest rate is in the middle 5% range or higher, then you need to take a serious look at refinancing.  

If you obtained a $150,000 30 year mortgage 2 years ago at the rate of 6% then your monthly payment should be around $900/mo for the principal and interest (not including taxes and insurance).  If that same loan could now be refinance to a rate of about 5% your payment drops to around $805!  You save about $1100 a year for the rest of the life of your mortgage!

The interest rate, closing costs, loan type etc., will all depend on your current loan and your own personal situation.  Go ahead and fill out the quick questionnaire below and lets take a look to see if refinancing could be a good option for you.

 



If you have trouble loading or viwing the form click on the link below or copy and paste the address in to your browser window
http://spreadsheets.google.com/viewform?key=pf7UTuXfNBgfQKzuxMpqmCQ&hl=en

******************************************

Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga.  Call me for all of your real estate needs.

Visit my website

Visit www.AgentBobSells.com

See All Powder Springs Homes For Sale

See ALL Homes listed in both Atlanta MLS Services. The only home search youll ever need!

Contact Agent Bob

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

*****

 

 


Bob Southard
Broker - Owner  Atlas Realty Service LLC #75911
1% Listing Commissionand BuyerRebates

www.1PercentListingSolution.com

O:678-439-SOLD(7653)

CALL ME DIRECT: 770-656-9134

Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Smyrna, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga. Call me for all of your real estate needs.

Visit my website

www.AgentBobSells.com

 

bob@agentbobsells.com

Call me for all of your Real Estate needs

678-439-7653

Copyright © 2008,2009,2010,2011,2012,2013,2014,2015,2016,2017,2018 By Bob Southard, All Rights Reserved

 

 

Comment balloon 2 commentsBob Southard • December 31 2008 11:37AM

Comments

Great info.  I've been running numbers too.  If we bought a house 5 months ago when rates were 6.75%, and we can close in February with a locked 4.625%, we're saying $500 a month!!  Yes, a MONTH!

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 10 years ago

Donna,

Great to hear from you.  Thanks for the comment.  I hope your transition to Austin is going well.

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) over 10 years ago

This blog does not allow anonymous comments