Mortgage Rates Still Record Low

By Susanna Grubb

It is truly unbelievable that mortgage rates continue to remain below 4%.  The 30-year mortgage rates averaged 3.87% last week  – the 28th consecutive week with sub-4 percent rates. The 15-year mortgage rates averaged 3.11%. 

Mortgage Rates 2015Today, home buyers can purchase 10% “more home” than last year. So if you as a buyer qualified for a $400,000 home in June 2014, then you could probably afford $440,000 in today’s market.

If you think like me, you may want to know how that applies to you. Estimate that mortgages average $470/month for every $100,000. In addition, add HOA dues, property taxes and insurance. Some borrowers may need private mortgage insurance (PMI). I can help you find the HOA fees, estimated new property taxes and property insurance quotes.

I highly recommend to my buyers that they get pre-qualified or preferably pre-approved before looking for a home. It’s a fast moving market and they need to be ready to act. 

It is a win-win time for both home buyers and sellers!!

I’d be happy to help you!! Please call me (561)827-2952 with questions.

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About Susanna Grubb

Susanna specializes in Florida boat slips for sale and Jupiter Florida real estate. She sells Stuart, Jupiter and Palm Beach Florida waterfront homes, country club homes and beach condos. FEATURED COUNTRY CLUBS: Admirals Cove, Ballenisles Country Club, Country Club at Mirasol, Frenchmans Reserve, Jonathan's Landing, Jupiter Country Club, Jupiter Hills Club, Old Palm Golf Club and Tequesta Country Club.

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