Interest rates are an important factor in the cost of owning a home, if you have a mortgage, which most buyers will. Low interest rates can save thousands over the course of a loan. Take a look at this chart to see the recent history of where interest rates have been (they used to be even higher) and see how low they are now. How long they will remain now is anybody’s guess.
We share this chart in hopes to provide potential homebuyers in Wisconsin with some food for thought regarding whether now is a good time to buy. Buying real estate is a long term investment. You have to think beyond today, this year or next year. Today’s rates and today’s prices offer many advantages to today’s buyers buying for the long term.