MRED Blog

We often talk about the potential cost of waiting to buy a home. Today, we want to look at the actual cost for someone who waited over the last year. We used a 10% increase in house values as prices have gone up by double digits in the country on average. We looked at approximate mortgage rates last year compared to this year. Here is the impact on a monthly mortgage payment (principal and interest):

Information via KCM Blog

Infographic via KCM Blog

After witnessing the housing bubble ‘pop’ just a few years ago, many would be buyers may be hesitant to pull the trigger. Today, we want to explain that the greatest risk a buyer can take right now is actually waiting to buy a home.

We realize that every purchaser wants to be able to get the best deal. They want a great price and the lowest mortgage interest rate possible because those to items together will determine the monthly cost their family will pay.

To look at each one, read the full article from the KCM Blog

Infographic via KCM Blog

The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have all projected that the 30-year mortgage rate will be at least 4% by the end of 2013. If we assume that rates will still be at 4% in twelve months, here is the difference a buyer will pay if they wait.

Article via KCM Blog

Don’t be afraid of those two words-expert advice. Remember:

• An expert doesn’t mean you’re going to give perfect advice.
• An expert means you’re going to give excellent advice.

Read the full article via the KCM Blog to learn more.