30YF Rates are down to 3.5%! It's a great time to save on a mortgage. With mortgage rates on a 15-month slide, the cost of homeownership has, truly, dropped to its lowest point in history. You'll never pay less mortgage interest in the process of paying down your home that you will right now.
What you save on mortgage interest, you can spend on other things.
The amount by which monthly payments have been cut should not be underestimated. Falling mortgage rates shift the principal-interest balance of a monthly mortgage payment, dramatically increasing the portion of each payment directed toward the original loan balance. In doing so, it also reduces the mortgage payment's interest portion.
Sometimes we forget that "mortgage rates" are mortgage interest rates. As interest rates fall, so do interest payments.
There has never been a better time to buy! Prices are still at historic lows, there is a ton of inventory out there, and a mortgage has never been cheaper. Contact me today to get into your dream home tomorrow!!!
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