Money's Never Been Cheaper
Amazingly 30-year fixed rate mortgages have been hovering for the last several months around 3.85%. The chart above displays the historic proportion of today’s rock bottom interest rates with graphic clarity. MIND-BLOWING. The interest rates of these recent months are below all previous records tracked by Freddie Mac. Mortgage money has never been “cheaper” at a time when home prices couldn’t be more attractive.
These history-making low rates combined with an almost unprecedented drop in home values have made the monthly cost of owning a home today, according to the National Association of Realtors, the lowest since records began in 1971.
People ask us all the time, "How's the real estate market? Has it stabilized" Go to www.HiltonHeadMarketInfo.com to get the "skinny" on our local Hilton Head Island/Bluffton real estate market, or ...