Wednesday, November 30, 2016 / by Amy Paradysz
Is 2017 going to be the year you purchase a home? If so, you will want to keep reading. We teamed up with our awesome in-house Mortgage Lender, Diane Malley of Mortgage Master to discuss Interest Rates in 2017. Check out the video below to hear what she has to say, or scroll down for a recap!
On Tuesday it was announced that the Mortgage Insurance Premium for an FHA loan decreased! Previously the annual MIP (Mortgage Insurance Premium) on FHA loans was 0.85%, but with the new decrease it is now 0.6%! This makes the FHA loan much more attractive!
Let’s put that into perspective: On a $300,000 loan you would save you $72 / month
It is also good to point out that FHA Loans are not just for first time home owners, they’re great for any home owner that will be using the home with the FHA loan as their primary residence.
What should you expect on Interest Rates throughout 2017? An increase.
Currently Interest Rates are 4.125% (FHA Rates 3.75%)
Interest Rates are projected to increase to 4.6% by the end of 2017
This means it is better to purchase a home in early 2017, rather than wait.
Interest rates are projected to increase in 2017, so lock-in on a rate now to avoid paying more!
When you are ready to list your home, we can help. You will need a team of agents who will prospect daily for potential buyers, advertise your home effectively, show to prospective buyers, negotiate the purchase contract, approve financing, handle all of the marketing from listing to contract and all of the administrative paperwork from contract to close.
The Benjamin Hardy Real Estate Group is your Real Estate Team. Our objective is to sell your home with the least amount of hassle at the highest price possible. By pricing your home accurately, we will position your home to sell dictated by the market. Your home will receive maximum exposure with our extensive marketing plan, including showcasing it to our own database of potential buyers.
610.784.3213 | www.hardyrealestategroup.com |firstname.lastname@example.org