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What Do Rates Mean For You? Is Now A Good Time to Buy?!

You’re hearing “rates, rates, rates, real estate market, rates!?!!?!”, but what does that mean for you? 🤔🤔🤔
Would you rather pay under 5% interest, or a 100% interest? 😳😫😫
Is now still a good time to buy? 🤷🏽‍♂️🤷🏻🤷‍♀️
Have rates gone up? 
Absolutely, they’ve gone up from last year. But guess what? We’re still seeing rates under the fives. Which is really, really good, considering the first house I bought, I paid 9% interest. 
A message from Team Leader, Brandon Brittingham:
And guess what else is happening? Rents have increased dramatically, especially here on the Eastern Shore 📈📈
So you’re hearing, “rates, rates, rates”, but what does that mean ? 
In most cases here on the Eastern Shore, you can own a house for substantially less than you’re paying in rent. And, if you’re in a lease right now, contact your landlord or wherever you rent, and we can bet, when your lease comes up for renewal, your rent is going to go up. 
We don’t know about you but we like to save my money 💰💰💰💰
And when you own a house, you’re literally putting money into a savings account, every month that you can control, because you’re paying principal down. 
And guess what? When you rent a property, you’re paying a 100% interest 😳😳
So would you rather pay under 5% interest, or a 100% interest? 
Now is a really good time to buy still, because rates are still relatively low. 
Take advantage of rates while they’re still below the fives, which is what they are right now today, before they get up to 6 and 7%. And even 6 and 7% isn’t bad considering the history of rates, but right now they’re still relatively low. 
If you’ve thought about buying a house, don’t listen to the noise. Here’s the actual news. Rates are still good 👌👌👌
They’re relatively lower compared to rents. And you can get a really good deal from a payment perspective on a house, probably more than you think, you just haven’t had anybody walk you through the process. 
So let us help you, and let us walk you through the process, so you understand what it takes, so you can stop paying a 100% interest. 
Connect with us today, we’d be glad to help you buy your first house, or your next house!👋
The Maryland and Delaware Group of Long & Foster Real Estate ☎️ D: 443-783-3928 O: 443-339-9200

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Our agents write often to give you the latest insights on owning a home or property in the local area.