Rates are starting to creep up. What? Yes, this week rates have started to climb. Due to the massive treasury issuances and the market not knowing if it can be absorbed rates have started to climb. What does this mean to me? Well, let’s look at it this way. If rates simply climb by 1% you will need houses to decline 10% in value to get the same payment. I know this is pretty broad but is a good rule of thumb.
If you are in the market to buy it would only make sense to do it now so you can get the most bang for your buck. A lot of people don’t believe they can get financed without some exorbitant down payment. That is not true, unless you think 3.5% is outrageous. We can get the seller to pay closing costs and put you in the home of your dreams. There was also a recent bond issuance that could also pay your down payment or a ton of other options to help with down payment.
If you have questions or just need consultation on what your best move would be now please feel free to visit my website or give me a call at 405-922-2968. The time is not right for everyone and therefore you need expert consultation to make the right decision. Make sure the time is right for you.