Interest rates have been a hot topic as of late, and so today we’d like to clarify what all the buzz is about.
At the beginning of 2019, interest rates were at 2.66 points per the U.S. Treasury’s 10-year bond. Now, they’ve dropped to 1.5 points. This may not sound like a lot, but even a one-point drop in interest rates translates to thousands of dollars’ worth of additional purchasing power for today’s homebuyers.
Rates are at incredible historic lows, which means now may be the time to get off the fence if you’ve been thinking of making the transition from renting to homeownership—or even if you already own a home but are interested in refinancing or moving on to another.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.