What’s Happening with Interest Rates and What it Means to You

by Goodlife on July 30, 2010

Interest Rates at a Historical Low — Now is a good time to buy

Take a moment to watch our latest lender update: [display_podcast] It’s great that Interest Rates are low, but what does that mean to me?

Did you know that for a $200k home, with 5% for a down payment, with the current interest rate at 4.25% (4.34% APR), your monthly payment would be approximately $935.

Buying that same home at an average interest rate of 7% (7.212% APR) would cost you $1,264 per month.

In other words, the same house with the same down payment will cost you approximately $329 LESS per month.

Or, said another way…you could buy a lot more home for the same amount of money.*

* Hypothetical numbers. To get accurate verified numbers, please call us.

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