Mortgage Rates give you $55,000 extra to spend!
Mortgage rates for Teays Valley homes are at their lowest in years. According to the Freddie Mac Primary Mortgage Market Survey, the 30 year fixed rate is 3.99% and the 15 year fixed rate is 3.30%.
What does this mean for you if you are interested in buying a Teays Valley house for sale? You can now buy more house for the same amount of money.
For example, a house costing $250,000 would have a monthly payment of $1762.75 on a 15 year fixed rate. That same house just a few years ago when rates were double what they are now, would have cost $2150.38. That is a difference of $387.63 per month.
Spending that extra $387.63 a month, you could now purchase a Teays Valley house for sale listed at $305,000. That is a $55,000 difference.
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About the Author: My name is Dale Samples and I am a REALTOR serving the Kanawha Valley. You can Call/Text me: (304) 741-4705.
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