The US has never had more affordable homebuying than now

By
Mortgage and Lending with sboyle@amerifirst.us 37810/145368
http://actvra.in/m7Z

A home buyer purchasing a typical American home at the prevailing average mortgage rate  today would have a mortgage payment of  $698 a month. This figure is not much different from what a home buyer would have faced 30 years ago. In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Today, home prices have come down by about 33 percent on average from the bubble years, but prices still remain comfortably higher than those of the 1980s. However, thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced.At the other end, one sees the slowest growth in monthly mortgage payments for homebuyers. It is not that this cost element rose slowly and steadily over time; rather, it is the result of volatile swings in home prices and mortgage rates. Compared with the other items, the value proposition for homebuying is blaring!   Very tight underwriting standards, unfortunately, are keeping some good, hard-working Americans from taking advantage of the super affordable conditions.

 
Posted by

 

 

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Idaho Ada County Boise
Tags:
the us has never had more affordable homebuying than now

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cat to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
20,079
Carol Babington
Carol Babington Associates - Las Cruces, NM
CRB, CRS, CIPS

A very succint and informative post which I will pass onto to my buyers...

October 29, 2011 01:00 PM #1
Rainmaker
680,170
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggresive & 560 FICO - OK, Colorado Mtgs

The only part of the equation you missed is that incomes have risen considerably since 1981. So when you take all the factors its actually a provable number to show the MOST affordable time to buy a home in just under 60yrs! Yep since the 50's it hasnt been a better time to buy than now!

October 29, 2011 01:03 PM #2
Anonymous
Anonymous
Suzi Boyle

Thanks Carol

October 29, 2011 01:35 PM #3
Anonymous
Anonymous
Suzi Boyle

Thanks US Mortgages

October 29, 2011 01:36 PM #4
Ambassador
782,743
Fred Griffin Licensed Real Estate Broker
Frederick Griffin, Licensed Real Estate Broker - Tallahassee, FL
Tallahassee Florida. Call 850-339-4861

Suzi, NOW is the time!  

    A well-written and motivational Blog Post.

October 29, 2011 02:50 PM #5
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
249,133

Suzanne " Suzi " Boyle

Idaho's Only Nationally Recognized Originator
Please call to get Preapproved
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the truck to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: