Rates are flat today. Today’s comparison mortgage rates with no lender fees are 4.125% on a 30 year, 3.375% on a 15 year and 2.875% on a 5/1 ARM. Click here for more details.
Home building increased by 15% in the month of September. That’s the largest increase in the last 17 months! This is a great sign for the economy, and it could help people get out of a messy renting situation and buy their own home.
Today I’m going to revisit the age-old question: is it better to buy or rent? I also sing the praises of house flippers. They make the housing market (and economy in general) better for everyone!
It’s all in today’s episode:
Currently, the only reasons you should rent are because you have horrible credit, no job, or are planning to move. Everyone else should seriously consider buying a home. It will most likely be cheaper than renting, and you actually own it! You’ll also own the equity once the market recovers.
As you know, foreclosures have been an issue in recent years. Fortunately, house flippers have been taking these foreclosures, rehabbing them, and selling them to people in need of a new home. This is a great service to our communities and current renters would be wise to purchase one while they can.
Flippers have a tremendous impact on local real estate. When they rehab a foreclosed property, they hire workers who spend money in the local economy. The improvements they make on the foreclosed home also increase the value of every house in the neighborhood.
When flippers are involved, everyone wins!
So Realtors, next time you see a local house flipper in the grocery store don’t be afraid to give them a hug. Thank them! Nobody else is helping the industry more than them.
Let’s change the way people shop for a mortgage…forever!
PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below. Daily comparison rates, calculators, and other cool features are available in the free Rates in Motion LoanApp by going to your smart phone and clicking on this link, activation code is 9203780002