Take advantage of low interest when buying a home in DC Ranch or Grayhawk or any place in Scottsdale, Arizona.
If you’re considering buying a home in DC Ranch or Grayhawk, now is the time to take that leap into home ownership. The latest plunges in interest rates are making home-buying quite an attractive offer.
It’s history in the making as mortgage rates in the Unites States have fallen to a record low for 30-year fixed loans. The average rate for a 30-year fixed loan is an astonishing low of 3.56 percent. With the sluggish economy and financial concerns on the increase among most individuals across the country, reducing mortgage rates will more than likely encourage home-buying or refinancing.
When the Fed “cuts rates,” it is a reduction in the federal funds target rate, otherwise known as the “nominal” rate. This target rate is similar to a guideline for the actual rates banks will charge one another on overnight reserve loans. Feds lower rates to propel the economy along, but are inclined to raise rates if the economy’s growth is excessive, leading to inflation.
If you already own a home in DC Ranch or Grayhawk, you may want to consider refinancing your home. Refinancing your home is the key to saving money. Homeowners can save up to hundreds of dollars with mortgage rates coming in at historic lows of 3.56 percent.
How low can you go? Facebook founder Mark Zuckerberg gives home buyers something to strive for. The social network tycoon has just refinanced his home with a 30-year adjustable rate loan starting at a whopping1.05 percent. For those borrowing money below the rate of inflation, is akin to borrowing for free. The 28-year-old managed this coup as Zuckerberg has an extremely high-net worth ratio and is willing to take the chance on monthly rate adjustments.