Should You be Buying?

Should you be buying in this market? Well it depends… do you see the interest rates going up anytime soon? Do you like to save money? There have been multiple reports that interest rates will be going up several times over the course of the next year. How high? Well, no one really knows at this point. It wasn’t too long ago that we were in the 6.00% land. Why wouldn’t you want to lock in on these low rates?

What does that mean to you? I’m glad you asked! Interest rates have been hovering around 4.00% to 4.25% recently. Here is a little breakdown to compare savings.

Payment Summary

Interest Rate MONTHLY PAYMENT TOTAL PRINCIPAL PAID TOTAL INTEREST PAID TOTAL PAID
4.25%
4.75%
5.25%
$1,475
$1,565
$1,656
$300,000
$300,000
$300,000
$231,295
$263,379
$296,380
$531,295
$563,379
$596,380

So if you have been going back and forth on deciding to buy today might be a good time. Give me a call and let’s discuss!


MapLogo-weba1c6e7d9-a3d4-40d9-90f8-438e7790f02f


Joshua T. Novy – TeleQuest Realty
joshua@novyknows.com – 773.454.5595
http://www.novyknowschicago.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s