Search for Ulster County Homes For Sale
a money-saving time to be a Woodstock home buyer. Historically,
mortgage rates of all types -- conventional, FHA, VA and USDA -- have
never been lower and low mortgage rates make for low monthly payments.Â
According to Freddie Mac's weekly mortgage rate survey, the average 30-year fixed rate mortgage fell to 3.67% nationwide
last week for borrowers willing to pay 0.7 discount points at closing,
plus a full set of closing costs. 0.7 discount points is a one-time
closing cost equal to 0.7 percent of your loan size, or $700 per
Today's mortgage rates are a bargain as compared to just 1 year ago.
early-June 2011, the average 30-year fixed rate mortgage nationwide was
higher by 88 basis points, or 0.88%. If you are among the many U.S.
homeowners who bought or refinanced a home around that time, refinancing
to today's mortgage rates could save you 10% or more on your payment. Â
Home buyers have measurably more buying power, too.
Here is how mortgage payments on a typical 30-year fixed rate mortgage have changed in 12 months :
- June 2011 : $509.66 principal + interest per $100,000 borrowed
- June 2012 : $458.59 principal + interest per $100,000 borrowed
the math to a real-life example, a homeowner whose $350,000, 30-year
fixed rate mortgage dates to last June would recognize monthly savings
of at least $179 per month just by refinancing into a new 30-year fixed
rate mortgage at today's current levels. That's more than $2,145 in
payment savings per year.
Even after accounting for the required
loan discount points and closing costs, the "break-even point" on a
refinance like that can come quickly.
Mortgage rates have been
dropping but there's no promise they'll fall forever. Once rates reverse
higher, they're expected to rise sharply. Therefore, if you're planning
to buy a home or refinance one in New York , consider locking in a
mortgage rate while mortgage rates are low.
The market looks good for that today.
Whether looking for a new home, a second home, weekender, country retreat..... start your search for Ulster County Real Estate
Ulster County Real Estate: Catskills Real Estate, Hudson Valley Real Estate, Upstate NY Real Estate,Â Ulster County Homes For Sale, Ulster County Log Homes For Sale