Consumers, myself included, no matter how smart we are, we need to be shown in dollars and cents, exactly why it is such a great time to buy with the interest rates being historically low.
That is the single positive push we are left with in our market. The rates are fantastic and, as indicated in an answer already given, showing a buyer what a jump by 1 point will do to their payment, it certainly helps. The problem is job security.. you can have rates at 3% but without job security, it doesn't matter.
Buyers in every market are the same. They want the best deal. By showing them how a 1% increase in mortgage rates would affect their monthly payment, they can see what a deal they would be making by purchasing a home now, rather than waiting. Also, you can inform them that rates of 1% higher were not that long ago. Another item of importance is the change coming with FHA loans. If they do not have an FHA case number by October, they will be paying up to nearly 1% more on their MIP which will affect their monthly payment.
Real Living Eudailey Real Estate