Shirley Kistler's Real Estate Blog: Serving your Real Estate Needs in Sacramento, Placer and El Dorado Counties » Interest rate http://shirleykistler.com Wed, 18 Apr 2012 00:33:55 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 1/3 of Americans Unlikely to Qualify for a Mortgage Today http://shirleykistler.com/2010/10/11/13-of-americans-unlikely-to-qualify-for-a-mortgage-today/ http://shirleykistler.com/2010/10/11/13-of-americans-unlikely-to-qualify-for-a-mortgage-today/#comments Mon, 11 Oct 2010 08:00:10 +0000 Shirley Kistler http://skistler.blogs.rwnetwork.com/?p=673 According to an analysis of more than 25,000 loan quotes and purchase request on Zillow Mortgage Marketplace during the first half of September; almost 1/3 of Americans are unlikely to qualify for a mortgage because their credit scores are too low. 

They found that 29.3% of borrowers have a credit score less than 620.  The lowest rates went to 47% of borrowers with excellent credit scores of 720 or above. 

Zillow Mortgage Marketplace quoted that during this period, borrowers with excellent scores got an average rate of 4.3% for conventional 30 year mortgages.  Mid range borrowers with credit scores between 620 and 719 received rates between 4.73% and 4.44%.  Those with credit scores below 620 received too few loans to calculate the interest rates received. 

For each 20-point credit score increase, the average annual percentage rate (APR) declines 0.12%.

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]]> http://shirleykistler.com/2010/10/11/13-of-americans-unlikely-to-qualify-for-a-mortgage-today/feed/ 0 Taking advantage of today’s low Sacramento interest rates http://shirleykistler.com/2010/07/22/taking-advantage-of-todays-low-sacramento-interest-rates/ http://shirleykistler.com/2010/07/22/taking-advantage-of-todays-low-sacramento-interest-rates/#comments Thu, 22 Jul 2010 22:50:07 +0000 Shirley Kistler http://skistler.blogs.rwnetwork.com/?p=267
Ranch style home in North Salinas, California
Image via Wikipedia

In the past 32 years working in the real estate industry, I have not experienced a 4-1/2 % interest rate on a 30-year fixed rate loan.   It is time to give a lot of thought to purchasing a  home in this market. 

Are you concerned that  home values may decline?   

Sure, it is possible but will you ever see 4-1/2% again?   That equates to $450 for every $100,000 in the purchase price of your home.  Can you rent for that monthly payment?  I doubt it.  Lets also not forget the tax benefits of owning your own home and the freedom of making your house a home for you and family.

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