Just when you thought that Vermont’s Mortgage rates couldn’t go any lower, they just did. Some lenders are now offering rates at 4.5%, the lowest in history. Better yet it looks like rates may even go a bit lower, perhaps approaching levels found in Canada, 3.8%. So what does this all mean for folks who have confidence to buy a home in Vermont? It means that their buying power has gone way up from one year ago when rates hovered near 6.5%. For example, on a mortgage of $200,000 the payment at 6.5% would be $1264 versus $1013 at the new 4.5%. That means a Vermont buyer will save $251 per month, that’s a lot of dinners out.
| posted by Bill Desautels
P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com The Condo Guy – Vermont condo real estate The Condo Guy has been providing advice to buyers and sellers of Vermont condos real estate for nearly 30 years. |
Filed under: Vermont Mortgage Updates | Tagged: 4.5%, bill desautels, condo guy, mortgage, mortgage rates, rates, vermont, vermont condos, vermont mortgage, vermont real estate
