Consider the example below. **Note interest rates can change daily.
- Average 30 year fixed rate: 3.5%
- Median list price in Raleigh: $218,425
- Average 30 year fixed rate: 4.375% Year over Year increase of almost 1%
- Median list price in Raleigh: $232,000
*** This same house cost $13,575 more 1 year later which equals 6.2% increase. Also an increase in interest rates up 0.875%. Which means potential savings last year to this yeas is $143.00
*** If this trend continues, this same house in 2015 will be $246,385 ($27,960 increase from March of 2013) with an interest rate of 5.125% and an increase in payment of $289 per month.
What does this mean for you???? Contact Us to Buy a Home NOW while the rates are affordable. If this happens you are now in a different price bracket and maybe looking for a home in a different area. Let the Raleigh experts help you buy, sell, or invest in your next home.
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