The annual cost to own a $250K home has dropped $780 since January thanks to low interest rates.


The annual cost to own a $250K home has dropped $780 since January thanks to low interest rates.
By Scott Rogers • November 16, 2012
Another new record low -- average 30-year fixed mortgage interest rates are now hovering at 3.34%, a level never seen before! If you bought a $250K house in the first week of January with 80% financing with the interest rate at the time (3.91%) you would be paying $945/month in principal and interest. Buying a $250K house today with 80% financing with the current interest rate (3.34%) will result in a payment of $880/month in principal and interest. That means that since the first of the year, the cost to own a $250K house has decreased by $65/month --- which is an annual savings of $780. Wow! It has been very rewarding to see many of my clients closing on home purchases this year and locking in their housing costs at such historically low levels. Will you be next? Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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