🏡 We love living in the California #hidesert. 🏜️ Especially the beautiful mountain views from our front yard. There is really no where else we would rather be. We've been thinking about upgrading and buying another house in the same area because interest rates are so low right now. According to the federal reserve "It is difficult to predict what will happen to long-run averages of real interest rates in the United States and abroad. But, two recent studies calculate steady-state measures of the U.S. real-interest rate; measures point to historically low values now. These forces will continue to put downward pressure on real interest rates." 🏡 COVID-19 has totally impacted the residential real estate market and interest rates are so low making a 15 or 30 year fixed-rate mortgage way more affordable . I think it's a good time to buy right now because the 30-year, fixed-mortgage interest rate averaged 2.74 percent in January, down from 3.62 percent in January 2020. 👨👩👦 We've been looking at lots of different houses in our area and using a handy mortgage calculator that also shows yearly capital & interest payment breakdown. It's so easy to use and although it was technically made for the UK market, it works for any location market. The site also has clever graphs of loan repayment along with monthly and yearly amortisation tables.
If you're looking to buy a house check out these useful sites >
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Do you think now is a good time to buy?
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