What's Going On With Mortgage Rates Is It Safe To Buy?
Hey everyone! In this video – I answer a couple text messages about the current status of Mortgage Rates and If this is a good time to own a home… It’s the most common question we get amid the Coronavirus pandemic; ‘ “Is it even safe to Buy?”
And to answer that in a short form- Y E S 🎉 Its still an amazing time to own. Mortgage rates are still Historically Low.
Don’t let a volatile market deter you from the facts.
📚 Fact: Only 5% of your monthly payment is influenced by a Mortgage Rate
📚 Fact: Over 40% of your monthly payment is based upon your Down Payment Strategy
📚 Fact: A mortgage is Debt- and If you can offload your other debts BEFORE you get into the home of your dreams. You’ll have stronger cash flow and could even qualify for a Higher loan amount.
📚 Fact: Virtual Tours are heavily used even before the Pandemic took stronghold of the world.
In other words- While everyone is hunkering down. Home values are still increasing and with rates fluctuating as mucha s they are, but one thing is for sure…You can sit and wait- and I promise that home you are looking at today will be more expensive in 6-12 months.
Homes are still appreciating 3-5% Nationally and even Higher in the Lake Nona Markets.
Take advantage of the market if it permits you too.
I’m here to help!
🖊Michael Anthony St.Claire, MLO⠀
#MortgageRates2020 #MarketUpdate #HomeBuyingTips