Mortgage interest rates remain very attractive and are now at or near 40-year historic lows.1
Great Long-Term Investment
Home equity is the largest single source of household wealth for most Americans.2 From 1972 to 2007, the median home price appreciated at a compound annual growth rate of 6.4%.3 To put that in perspective, a $25,000 investment back in 1972 at the same rate of return would be worth approximately $233,000 today. Maybe that’s why nearly two-thirds of Americans agree that renting a place to live is like throwing money away.4
Last year, a home was sold in this country every 4.9 seconds on average .5 Although no one can predict the future, rest assured ? demographics will continue to drive long-term demand. Looking ahead through 2015, 14.6 million new households are expected to form in this country.6 And all these people will need a place to live. Getting the jump now – when rates are low, inventory is plentiful and home prices are compelling – is a great strategy for building your own nest egg and personal wealth. Remember, the early bird catches the worm. Too bad for the worm, but potentially very good for you.
If you’re considering a move, or hear that any family, friends, neighbors or colleagues are, please feel free to contact us.