More Money, More Value: What Low Interest Rates Mean For YOU

Dated: 03/05/2020

Views: 505

Interest Rates are the lowest they’ve been since 2008. Whether you've heard the news about the Fed or prefer not to think too much about those things, I don’t want you to miss out on the opportunity that this represents!

If you own a home, are considering buying a home, selling a home, or are looking to make a major purchase of any kind, this could save you a lot of money.

I’ve seen some of our clients get less than 3% interest rate on their mortgage this week. It’s important to understand what this could mean for you, so I've outlined the ramifications below to help you capitalize on it for your own situation.

 

Homeowners: Refinance to Save Money

If you own a home, refinancing now could lower your monthly payment and overall interest paid. How would it change your finances if you could save $300-400 per month on your mortgage payment?

One client, who bought a home last year at this same time, just refinanced to lower their interest rate by roughly 1.25%, saving them around $400 a month. 

Of course, it depends on your current interest rate and your qualifications. But it’s definitely worth looking into!

Sellers: Buyers are Plentiful

The combination of low inventory, large numbers of buyers and low interest rates has created ideal conditions for home sellers. More buyers are likely to enter the market because of the current financial opportunity.

If you are thinking about moving out of your home, it is an ideal time to list.

Plus, whether you are upscaling or downsizing, you’ll be able to capitalize on the low interest rates for your next move!

 

Buyers: Get A Better Home Than Before

If you are looking to buy a home, your affordability just went up because of the financing options. You know those calculators that help you figure out how much you can afford to spend on a house? Well, if you plug in a lower interest rate, the price of the house in your budget goes up.

These conditions open up a level of house and price point that you might not have been able to consider before, but now it’s an option!

No matter which category you are in, we would love to help you use this opportunity to your best advantage. Call us at 530-404-5717 and we'll walk through your situation together and see how you can capitalize on low interest rates.

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Cory Meyer

Ranked by the Wall Street Journal in the Top 100 realtors out of 1.2 million agents nationwide. Starting from humble beginnings in 2000, the Cory Meyer Home Selling Team has skyrocketed to an elite r....

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