Do You Pay the Lowest Mortgage Payments Available in Last 15 Years?Dec 5 2011
With extremely low home prices and mortgage interest rates, owning a home has been the most affordable it’s been in the past 15 years and has become less expensive than renting in many metro areas. In 12 of 27 recorded metro areas, monthly mortgage payments on median homes are currently lower than rent levels. For those parts that aren’t lower yet, there are still huge boosts in affordability in home ownership, while apartment rent prices are expected to rise at least 4% in 2012.
Prices should remain low during the winter months, but are expected to rise shortly after. Call one of our expert loan officers to help you from over paying on a rental when you could be saving money and owning your own home.