SELLERS-BUYERS FEEL LOCKED IN BY CURRENT LOW MORTGAGE RATE

May 02,2023 | Posted By Dinorah Carmenate in re

Every week I get calls from clients wanting to sell their home and move and their number one hesitation is . . . will my new mortgage be higher than my current mortgage?

It appears that most Americans feel the same way. While there are many people wanting to move and right-size their homes, they are staying put because they have an extra low-interest rate.

The reality is we may never again see rates as low as 2% as we saw in the past. In fact, in my 33+ years in real estate, we have only seen rates this low 2 times in 33+ years.

What can I or anyone say to you that will convince you that selling your home with a low-interest rate is a smart move? There really is nothing I can say.

What I can tell you is that today’s current rates aren’t as bad as you think. You can do a home loan interest rate buy down under 5 percent today. . . and as low as 4.5 percent.

If your need to right-size your home is greater than saying you have a 3 percent interest rate on your current mortgage, call me, and let’s put a plan together.

Also if you are thinking of downsizing your home and using some of your cash from your sale to pay other expenses, pay off debt and purchase your new home, you may just see that you will actually be saving money every month.

Call me and let’s run the numbers to see if making a move makes sense for you and your family.

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Source: Realtor.com

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