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The Mortgage Rates dropped during the last week of May in 2019 and have stayed fairly low the remainder of this time. At this time, September 1, 2021, interest rates are at 2.87% average for 30 year fixed rate mortgage.

Does that automatically mean this is the best time to buy real estate? We hope to address that issue in this article. In other words, is this the right time for you to buy or sell real estate?

Florida’s Average Home Mortgage Rates 9-1-21

ProductInterest RateAPR
Fixed 30 Year2.999%3.154%
Fixed 20 Year2.986%3.139%
Fixed 15 Year2.568%2.768%

Lower rates should, give a boost to the housing market, which has been on the upswing with both existing  and new home sales picking up in the year 2021.

What This Means For You

The decision to buy a home should be based on your ability to continue earning at least your current salary, afford the monthly payment, down payment, home repairs and furnishings.

Also, it is good to have enough left for an emergency fund. And consider these factors such as HOA fees and the option to pay down your mortgage in case you must move quickly in the future.

It would be ideal to buy when both interest rates and home prices are low. Since that is not possible in this current real estate market, calculate both short and long term costs of a lower interest rate versus a lower purchase price. When the numbers make the most sense for you, make your move.  
You could use a Mortgage Loan Calculator and compare different interest rates, down payments, and home prices to see how each one is an advantage to you. Here is a Mortgage Loan Calculator that you could use for this purpose: Mortgage Loan Calculator.

However as Buyers, this might be a great opportunity for you to receive a guaranteed locked-in quote from your personal lender for the interest rate on a future Mortgage Home Loan.

Since we don’t have a crystal ball to tell when mortgage rates hit the very lowest number, we cannot predict if the rate will go up or down in the future. 

Whenever you are ready financially and emotionally to buy a home, that is probably the right time. Therefore choose the best interest rate, lender, and selling price for your future home.

And choose the Martin Group as your best Realtors®. We will gladly guide you with our real estate knowledge and 45 plus years of experience. Text 561-339-1779 to book an appointment for your FREE consultation. Or if you prefer, email us: Contact the Martin Group

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