MORTGAGE RATES ARE STILL LOW
William Piotrowski
William Piotrowski NMLS #219299 Branch Manager at Diamond Residential Mortgage Corporation Equal Housing Lender NMLS #186805 Call Today 630-881-8655 24/7 365 we are ready to serve you!
Yes, mortgage rates are a little higher but in perspective, they are still a bargain.
What a Difference 50 years Makes - 12/19/2016
In 1966, a gallon of gas was $0.32 and today, it is $2.49. A dozen eggs were $0.60 but they’ve only doubled to $1.33. A gallon of milk was $0.99 and today, it costs $3.98. You could send a letter for five cents and now, it costs forty-seven cents. stamp.png
The average cost of a new car in 1966 was $3,500 and today, it will cost $33,560. New cars have more features than the earlier models but they’re still ten times more expensive. The median price of a new home was $21,700 and now, is $304,500.
Interestingly, mortgage rates are actually lower today at 4-4.5% than they were fifty years ago when they were just under 7%. The rates have been low for long enough that many people have been lulled into believing that they are not going to go up.
Yes, rates are a little higher but in perspective, they’re still a bargain. Years from now, will you be remembering and comparing what they were back when?
Give me a call today to see what we can do for you 630-881-8655