Tyler Minges Home Buyers Guide 2017 Home Buyers Guide | Page 12

9 | HISTORIC TIME TO BUY
A HISTORIC TIME TO BUY
1980’s
15%
rates averaged at 12.7%
1990’s
rates averaged at 8.12%
10.19%
10%
7.81%
8.87%
6.41%
3.65%
5%
1976
1986
BUY NOW OR WAIT?
Considering that most pros think mortgage rates will
slightly increase or remain about the same without going
lower in 2017, loan candidates who are serious about
purchasing a home should act sooner than later.
“Today’s mortgage rates are in
a rock-bottom range. If you’re
ready to buy a home, there’s no
time like the present.”
Prices continue to rise in most areas. Even a small price
increase of five percent, coupled with an interest rate
that is one eighth to one half percent higher than they
are today, can cost a home buyer thousands of dollars.
We must keep in mind that while rates aren’t their all
time lowest, they are still very far from historic highs.
So even if you may have missed the lowest mortgage
rates ever offered, you can still get a much better rate
than than 10, 20 and 30 years ago.
Tyler Minges, HUFF Realty | BUYER’S GUIDE TO REAL ESTATE
2016
2006
1996
77%
BUYERS
MORTGAGE
VS.
PAID CASH 2
23%
BUYERS