"Hi, the chart below shows the history of interest rates (wow!). Considering the low-price/low-rate environment, we are at historic levels in terms of affordability."
Nikki Boad
Force Realty
History of Interest Rates: 1981 - 2011
30-year Fixed Rate Average for Each Year Represented
How does today’s affordability compare to recent history?
Housing Affordability
Housing Affordability
How does your interest rate effect your payment?
Below you can see the effect of rising and falling rates. This table is calculated based on the list price of this home with a 30-year fixed rate loan and 20% down payment.
Current
Price
$
284,900
Interest Rate
4.5
%
4.75
% 5.0
%5.25
%
5.5
% Payment Estimated
$
1,155
$
(69)
$
1,189
$
(35)
$
1,224
$
1,259
$
35
$
1,294
$
70
"Prices are down, interest rates are low; you don't usually find those two things happening at the same time. Unless you expect rates to decline dramatically in the immediate future, find the home you want and buy it! Waiting on the market doesn’t make sense. The difference in your payment – whether you guess right or guess wrong about interest rates – is not usually enough to outweigh the benefits of getting a good price, the pride of ownership, and the long-term value of your investment." – Nikki Boad
, Force Realty Judith Boad
ACCURATE REALTY GROUP
ACCURATE REALTY GROUP
"Guiding you in the right direction"judi@accuraterealtygroup.comSeattle Washington
www.bestbuyseattlehomes.com
www.bestbuyseattlehomes.com
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