LIME REALTY GROUP decided now’s a good time to take a look at the mortgage rate and see where we’re at. Since the markets have reached record highs lately, we figured that would cause an increase in the rate and it has. The current rate has moved strongly over the 4% market and currently stands at 4.25%. This is of course the standard 30-yr fixed rate. The most common mortgage rate used in the United States. The FHA 30-yr fixed rate is also moving up at 3.76%.
The FHA loan would be the better of the two if you can qualify for it. The lower the rate, the more money you save and the more home your dollar buys.
In the Southern Utah area, properties are steadily appreciating. The average home added between 25-30% to its value since 2013. This has always been a smart area to buy real estate! We even weathered the recession better than most other parts of the country.
Still, it’s a great place to get into a home. So if you’ve been sitting on the fence, like we know some of you are, it’s time to dip your toes and test the water. Call Lime today and let us help you get pre-qualified. Once you know what you qualify for, you can start shopping for a home in earnest. Do yourself a favor this year and invest in your future with a new beautiful southern Utah home!