Al Alford

Residential home and condo interest rates now at their lowest point in over a year!

Uncertain economic data, Ebola or whatever the case, interest rates are dropping.   Not since May 2013 have we seen rates that are as of today hitting as low as 3.75% on a 30 year mortgage and 2.875% on a 15 year loan.      To put that in perspective lets talk a $150k loan, with say 20% down on a $180k midrise or highrise condo.   The comparable condominium will no doubt cost around $1400-1600 a month to rent, and rents will continue to rise.    Newsflash; more and more people are moving to Atlanta. So the monthly carrying costs are as follows: $150k loan is $463 per per $100k, so: $695...