The graph below shows the Housing Affordability Index…and the news is good! The graph is based off of 3 variables:
- Interest Rates
- Housing Prices
- Family Income
(Click on the graph to enlarge)
Homes are as affordable as they have ever been- good news if you are a buyer! Also, if you are a current homeowner it’s worth it to look into refinancing your home. If you can lower the interest by 3/4 of a point or more, it’s possible that you can save quite a bit on your monthly payments and over the life of the loan. The government also has many programs available to make your home payments more affordable. Please contact me anytime if you’d like a referral for a lender or if you’d like to talk about purchasing a home. Megan@OmRealtyGroup.com
Helpful links:
- http://makinghomeaffordable.gov
- http://www.freddiemac.com/creditsmart/
Fantastic information. When I am at the point to buy, I am contacting you!
You’ve done a wonderful job with your vlog and the information communicated. Keep up the great work!
B
Thanks Bernardo! I’m so glad that you’re finding my video’s and blogs helpful! If you ever have any questions about the buying process, the Chicago market, or anything that you’d like to learn more about, please let me know and I will post a vlog. You have a very interesting website- what type of work do you do?
Megan