On the fence for buying? DON'T WAIT

Monday, June 11, 2018   /   by Bryan Arnold

On the fence for buying? DON'T WAIT

If you are waiting to buy, don't. You need to get into the market now. I cannot stress that enough. The new fed chairman Jerome Powell is likely raise interest rates this week, and could do it several more times this year. The time of 3.5% interest rates are gone, and they won't likely be back anytime soon. I expect them to go over 5% this week. 

What does that mean for you? Going from 4.5% to 5.0% on a $250,000 home on a 5% down loan will increase your total interest paid over the life of the loan by roughly $27,000. If they go to 5.5%, that number increases even more dramatically. 

If you are thinking about buying and are wondering where to start, don't hesitate to reach out. I'm available 8 am - 9 pm daily. Text or call 219-776-0622.