Buy NOW: Mortgage Rates are LOW...

There are a lot of homes for sale in Dayton Ohio area.  So if you are looking for homes for sale in Dayton then the selection is great. 

What about Dayton Ohio area mortgage rates? Here is how rates work...

• The Federal Reserve actually has nothing to do with mortgage rates directly.
• Mortgage rates more closely follow the bond market and the expectations for inflation.
• Rates now vary from about 6% to 6.5% for a 30 year fixed rate mortgage.
  
• The expectation is that by next year rates will be around 7%.

That means that there is a very REAL penalty for waiting... it sounds good but waiting could cost you thousands in higher mortgage payments... Dayton Ohio real estate is a great deal right now.

Check out my post on Rules for buying Dayton Homes for sale for other things to consider when looking for Dayton homes for sale or buying Dayton Ohio area real estate.

Increased mortgage rates = less home buying power

• Consider this example
  • If you can buy a $150,000 home today at 6.25%
  • If mortgage rates go up to 7% in the next year...
  • Then you could only buy a Dayton homes for sale of about $138,000
  • That's almost an 8% drop in the price of home you can buy.

So if you wait prices may come down but if rates go up... you should buy NOW even if home prices continue to drop... which I think they WILL... they wont drop more than the 8% you stand to loose in waiting...

So start looking right now at all the great deals that are available in Dayton Real Estate.  You can search every home listed for sale in Dayton real estate right here on my site... Just click the Search Dayton Homes for sale button at the top of the page and you are started on you way to buying a Dayton homes for sale.

As always, thanks for reading and please feel free to contact us with any questions at 937-353-4600 or Mark@MarkRyanGroup.com