THE GOOD NEWS:
Interest rates for mortgages haven't been this low in nearly 40 years.
THE EVEN BETTER NEWS:
You can now qualify for - AND BUY - more home for the money because you'll be paying a lot less each month.
Think of it this way:
- In 1983, people were paying almost 19% for a 30-year fixed mortgage. Today, the rate has been hovering just under 5.0%.
- Every decrease of one percentage point means that the price of a home is reduced by 10%, giving you a whole lot more buying power.