Interest rates are an integral factor in purchasing a home. They determine how much house a buyer can afford. Low interest rates not only give purchasers a lower monthly payment, but they also yield higher savings over the total span of the loan. Take a look at the scenario below.

Owners should also consider the overall cost of the loan when determining if it is the right time to refinance an existing mortgage — a drop of 1% in interest rate results in some surprising savings.

Many experts are predicting that these historic low rates should prevail through the end of 2021. 

Are you wondering what your mortgage options look like? I know some excellent lenders who can help you navigate the current mortgage rates. Give me a call!