Morning Minute: Why now is the time to buy a home

With interest rates still well below 5 percent on a 30-year, fixed-rate mortgage, now is the right time for many buyers to become homeowners, lock in low rates and pay less over the life of the loan, according to Realtor.com.

For example a homeowner who finances a $300,000 home with a 30-year, fixed-rate mortgage at 5 percent interest will pay $67,746 less over the life of the loan than a buyer with a loan at 6 percent, Realtor.com finds.

More headlines:

What the rich want in a home – Chicago Tribune

Considering a strategic default? Think again – Chicago Tribune

Haisler: No easy fix for landlord-tenant issues in Woodstock, Harvard – Northwest Herald

This entry was posted in Consumer Information, Housing Market by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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