Ah, the almighty interest rate. It has had all of the news sources for online news buzzing, and this week should be no different.
The rates dropped a bit due to the poor employment numbers that had been reported earlier this week.
The mortgage rate for a 30 fixed loan dropped from 4.51% to 4.41%. When you look at interest rates a year ago, we see that they were sitting close to their all time low at 3.38%. As we wrote about on our Santa Clarita Lending Website.
One of the other things that you may not be aware of is that my parents were in the 16% interest rate neighborhood when they bought their first home.
Ask your parents, if you are still fortunate to have them amongst the living, what their interest rate was. I’d bet you dollars for donuts they were higher than they are today.
Buying a home is such a personal decision. It’s not a great fit for everyone. Sure, getting a return on the mortgage interest you can claim, is wonderful, via the IRS and the mortgage interest deduction that is allowed.
However, some people don’t see home ownership as a good fit. We have spoken with those people and it typically comes down to them not wanting that level of commitment. Those folks being in the minority, would rather rent than become homeowners. BTW – we help them too with Santa Clarita real estate rentals.
We can answer all of your questions as they pertain to home ownership. We can do it in our offices with one of our Santa Clarita Realtor Team, or we can do it at some “off site” location.
The key to being successful regarding your real estate endeavors, to invest – to buy to live – to raise a family in the same home – to sell for top dollar – etc… Is to be brought up to speed, amongst other things, with regard to the Santa Clarita real estate market.
BTW – here is an upcoming open house we are going to have held open this weekend. This is a great time to see the local market and be introduced to some of the Top Real Estate agents in the SCV Cities.
Representatives of the Paris911 Team of Realtors will be on hand to answer your real estate questions and give you a glimpse of what advantages there are when choosing our REMAX of Valencia Paris911 Team.