Most people have heard the following phrases: “now is the time to buy”, “interest rates are low, act now!” Take a look at the interest rates as provided by Wells Fargo and the National Home-Builders Association. Keep in mind that these change on a daily basis and most likely won’t be the same if you log in to check them yourself.
To provide a comparison:
Conforming land in October of 1990 rates were 9.91% for a 15 year loan and 10.24% for a 30 year rate.
Today’s Mortgage Rates
30-Year Fixed: 3.875% – APR 3.935%
30-Year Fixed FHA: 3.875% – APR 4.168%
15-Year Fixed: 3.500% – APR 3.588%
7-Year ARM: 4.000% – APR 4.160%
*These rates are a snapshot from Wells Fargo.*
The National Home Builders Association provides a valuable resource to those people who are considering building a home.
While interest rates have started to climb back up from 2 or so years ago, the current market conditions still are very favorable for those who are seriously considering a major decision such as building their own dream home.
It might be time to start taking notes when you hear people say: “now is the time to build” or “you better act now before it’s too late!”
Submit a Comment
Building a home from the ground up is one of the most rewarding things you…
Thinking about building your dream home but feeling a little unsure about the money side…
Choosing a floor plan is one of the most exciting steps in the home-building journey.…
Back to school. Back to savings! This month, choose from $20,000 in free options or…
What if your home had room for everyone you love—your parents, your kids, and maybe…
What if your forever home didn't need to be sprawling to feel spacious, welcoming, and…