When buying a home in Tucson, Arizona consider the impact interest rates have on the affordability of homeownership.
In 1985 interest rates were at 12.22%… to keep you mortgage payment below $1,000 a month you would have been able to afford a home that cost $95,550. If you compare 1985 to today… interest rates are currently at 3.89% allowing you to buy a home in Tucson for $212,250 for a payment of just under $1,000.
As you can see interest rates have a huge impact on your Tucson home purchasing power.
While rates are low consider buying a home and in doing so consider a 15 year mortgage to put yourself on the fast track to increasing your net worth.
- Interest rates have come a long way in the last 30 years.
- The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget.
- Interest rates are at their lowest in years… RIGHT NOW!
- If buying your first home, or moving up to the home of your dreams is in your future, now may be the time to act!