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Mortgage Rates Are At Rock Bottom And Won’t Stay There!

Posted by Lake Norman Homes Realty
Posted in Home Buyers Blog
0

The national average on a 30-year fixed-rate mortgage dropped to 4.36 percent in Aug 2010 – lower than it’s been in the past half century. Interest rates for the same time last year averaged 5.19 percent, representing a difference of $90 in the monthly payment on a $200,000 home with 10 percent down, as well as a savings of $32,460 over the life of the loan. (more…)

Posted by Lake Norman Homes Realty
Posted in Home Buyers Blog
4

1. Home affordability is at an all-time high
The median mortgage payment on the median priced home as a percentage of the median household income is lower than it’s been in a generation.

2. Mortgage rates are at rock bottom
It’s hard to imagine interest rates going much lower, and when they start to inch back upwards, monthly payments and total loan costs will spike upwards. (more…)

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Lender Processing Fees	$
Credit Report	$
Appraisal	$
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Reconveyance Fee	$
Recording Fee	$
Wire and Courier Fees	$
Endorsement Fee	$
Title Closing Fee	$
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Other Fees	$

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Mortgage Term		yrs
Interest Rate		%
Monthly Payment	$

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Monthly Debt Expenses ^[?] Monthly Debt and Obligations Should Include: Monthly Credit Card Payments Monthly Auto Payments Monthly Child Support Monthly Association Fees Other Monthly Obligations, but NOT utility bills.	$
Down Payment:	$
Interest Rate:	%

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Mortgage Rates Are At Rock Bottom And Won’t Stay There!

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