Here is something from WSJ.com that might interest you:
Median price of existing homes in 4th quarter: $208,700, up 6% from a year earlier
http://on.wsj.com/1Iwo59O
The market is beginning to heat up ever since we entered the buying season last month!
With interest rates on the rise, don’t miss out on securing a property you can afford.
A good statistic I share with people is that as mortgage rates rise, purchasing power falls. More specifically, a 1% rise in interest rates on a 30yr fixed mortgage cuts buyer purchasing power by 10.75%.
If you’re looking to buy a home, get pre-approved for a loan BEFORE you go house hunting, so you are prepared to submit a solid, well received purchase offer.
Call me to get pre-approved today!
Regards,
Tom
