Interest Rate Update June 2019
25 Jun 2019 by Kimberlee Simmons

Overview: 🏡Mortgage Interest Rate Update!🏡 Rates still remain low (4% for a 30year conventional loan) and they show promise to stay low for awhile. This is fantastic news for buyers and seller alike. With lower interest rates comes higher buying capacity, which in turns allows sellers to capitalize on current higher market sales prices. However, we do not know when the ball will drop so if you have been thinking about buying or selling maybe it’s time to talk to your local specialist.

How does it work for buyers in a nutshell? When rates are low, it allows buyers to be able to afford a higher purchase price. For example, this could be the difference between a 3 bedroom vs 4 bedroom house. With rates as low as they are today (check rates here), a buyer should consult with a lender to see how much they can afford. I advise buyers to speak directly to a lender because online calculators do not usually include additional monthly costs such as property taxes, home owners insurance and other potential fees. These extra monthly costs could add up to an additional $200-$400 per month. Some cases even more. Consult the experts before you look at homes you can’t afford. Contact me directly for lending resources.

Sellers! This is great for you too! When buyers are able to afford more, they want more! With more affordability comes more opportunity to ask for a premium price when selling. However, don’t get too excited, if buyers are going to purchase your home at a premium make sure you have presented your home well. Here are some tips to help yield market or above prices when selling your home (click here for more details):

  • STEP 1: Stage Your Home to Show Its Full Potential
  • STEP 2: Draw Buyers in with High-Quality Listing Photos
  • STEP 3: Price It Properly From the Start
  • STEP 4: Put on a Good Show at Each Showing
  • STEP 5: Use a Proven Promotion Plan

For more detailed information on mortgage interest rates please click link: https://themortgagereports.com/51588/mortgage-rates-today-june-24-2019-plus-lock-recommendations

Kimberlee Simmons

How do you build a house? One brick, board, and nail at a time. That's how I attack life. Through several small successes, and many mistakes, we are all building our future until the day we die. My mom has taught me that no matter your age, we are all capable of future success.

For me, successes are both professional and personal and most of the time, both. I believe in the American Dream, hard work and lots of fun in-between! What's all the hard work for if you can't enjoy it with family, friends and pets.

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