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    Brandon Brittingham on Historic Low Interest Rates and What That Means for You

    When interest rates are at historic 50-year low, what does that mean exactly for you?
    A message from our team leader, Brandon Brittingham:
    We wanted to give you an update on what’s going on, if you’re a buyer, with interest rates. Last week, we saw a few of our buyers get rates under the threes. So right now, if you’re looking at buying, interest rates are at historic 50-year lows. So what does that mean exactly for you?
    That means is the cost for you to borrow money is a lot LESS than it was. So the cost for your mortgage is going to be a lot less when rates are lower.
     In some cases here on the Eastern Shore, especially Wicomico County, you can actually own a house for less than you’re paying in rent.
    So with the rates below threes, and understand that most mortgages you get, this rate is going to be fixed for 30 years, so it’s not like your interest rate is going to go up.
    When you have rates under three, that makes it really inexpensive for you to buy a house. And a lot of people don’t know that they can afford a house, or just the different parameters with credit, or whatever the case is, as to what goes into actually buying a house.
    A lot of people can qualify to buy a house and don’t even know it.
    So, right now, it’s a great time to take advantage of low interest rates.  And obviously, with everything that’s going on, we have all kinds of protocols from a safety standpoint, if you’re interested in buying a house, to kind of limit interaction, social distancing. We’re following all the CDC guidelines.
    So if you’re interested, we have the safety protocols covered.
    Now is the time to take advantage of really, really low interest rates.
     
    We are happy to answer any questions you may have and look forward with speaking with you!
     
    The Maryland and Delaware Group of Long & Foster Real Estate
    ☎️ D: 443-783-3928 O: 443-339-9200
    www.easternshorehomesolutions.com

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