For those people thinking about buying a Tampa home, NOW may be the best time to get serious. Not only has the market seemed to hit some stabilization, but Freddie Mac just announced that the rate on 30-year mortgages ticked up to 4%, from 3.99%, in mi-November. This may not seem like a significant move to the average person, but it is definitely an upward trend from a rate of 3.94%, just six weeks ago.
When making mortgage payments over 30 years, small upward trends in mortgage interest could mean lots of hard-earned dollars. Tampa homes are affordable and available at below-market prices, but any negotiated savings could be wiped out, when it comes to financing options. Florida's housing market has seen steady increases in home and condo sales, besides median sales prices. Some Tampa homes are certainly moving quicker and for higher prices, than a year ago.
To calculate average mortgage rates, Freddie Mac composes their estimate based on lenders across the country and some Tampa real estate agents can find slightly cheaper mortgage rates. In fact, experienced home buyers realize that Realtors are privy to the best deals on houses, insurance and mortgage loans. For this reason, home buyers in Tampa and elsewhere, should consult with real estate professionals, when looking for the cheapest way to purchase a home and cover expenses associated with it.
While the average fees on 30-year and 15-year mortgages were unchanged at 0.7%, home buyers should realize the average mortgage rates don't include extra fees or points, which are used to obtain the cheapest rates. Each point is a percent of the purchase price and finding lenders which offer low rates and low origination fees or points can make a difference in your home's overall cost. Tampa Realtors have researched the best mortgage lenders, for these types of cost savings.
Historically-low mortgage loans have been taken for granted and homebuyers waiting for further declines in housing prices may be wasting valuable time. Purchasing a home in Tampa may be a smart move, especially when considering the ability to get low-cost mortgage financing. The old adage of "buy low and sell high", certainly applies Tampa home buying, but obtaining low-cost financing could become more difficult to find.
If you were one of the homebuyers with the best timing, you would've already purchased a deeply-discounted Tampa home with historically-low mortgage interest rates. Since there's been stabilization in Florida's housing market and Tampa foreclosures aren't as wide-spread, it may be time to get off the sidelines. Short sales offer discounts and affordable mortgage loans.
The Tampa Bay area provides perfect weather, great beaches on the Gulf and discounted Tampa homes can still be found. A Tampa Realtor can help you locate the best values in homes and they know the mortgage lenders offering the cheapest interest rates, so it isn't too late to take advantage of the housing market's bottom.
When making mortgage payments over 30 years, small upward trends in mortgage interest could mean lots of hard-earned dollars. Tampa homes are affordable and available at below-market prices, but any negotiated savings could be wiped out, when it comes to financing options. Florida's housing market has seen steady increases in home and condo sales, besides median sales prices. Some Tampa homes are certainly moving quicker and for higher prices, than a year ago.
To calculate average mortgage rates, Freddie Mac composes their estimate based on lenders across the country and some Tampa real estate agents can find slightly cheaper mortgage rates. In fact, experienced home buyers realize that Realtors are privy to the best deals on houses, insurance and mortgage loans. For this reason, home buyers in Tampa and elsewhere, should consult with real estate professionals, when looking for the cheapest way to purchase a home and cover expenses associated with it.
While the average fees on 30-year and 15-year mortgages were unchanged at 0.7%, home buyers should realize the average mortgage rates don't include extra fees or points, which are used to obtain the cheapest rates. Each point is a percent of the purchase price and finding lenders which offer low rates and low origination fees or points can make a difference in your home's overall cost. Tampa Realtors have researched the best mortgage lenders, for these types of cost savings.
Historically-low mortgage loans have been taken for granted and homebuyers waiting for further declines in housing prices may be wasting valuable time. Purchasing a home in Tampa may be a smart move, especially when considering the ability to get low-cost mortgage financing. The old adage of "buy low and sell high", certainly applies Tampa home buying, but obtaining low-cost financing could become more difficult to find.
If you were one of the homebuyers with the best timing, you would've already purchased a deeply-discounted Tampa home with historically-low mortgage interest rates. Since there's been stabilization in Florida's housing market and Tampa foreclosures aren't as wide-spread, it may be time to get off the sidelines. Short sales offer discounts and affordable mortgage loans.
The Tampa Bay area provides perfect weather, great beaches on the Gulf and discounted Tampa homes can still be found. A Tampa Realtor can help you locate the best values in homes and they know the mortgage lenders offering the cheapest interest rates, so it isn't too late to take advantage of the housing market's bottom.
About the Author:
Lance Mohr is a specialist in the Tampa real estate market. If you have any questions or are looking for a hard working Realtor give me a call. For details on Sunset Park homes for sale visit our website at Tampa2Enjoy.com.
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