Record Low Interest Rates for WV and PA New Homes, Again

Another Low for PA New Home Interest Rates

Boy, we are ALMOST sick of blogging about interest rates, because sometimes it feels like we are a broken record. Well, believe it or not interest rates are yet again at another record low. Just when you think the bottom can’t go any lower, it does, and boy…does that mean some home buyers of WV and PA new homes are getting the bargain of the century (literally)!

Consider this: home prices are at the lowest they have been in years. Top that with a 30-year fixed interest rate that is LESS than 4 percent and you have payments for large single-family homes that may actually be lower than your first apartment’s rent was years ago!

Let’s say you purchased a home for $350,000 in 2005 at 5.5 percent, which, at the time, was an extremely competitive interest rate. With 20 percent down, you were looking at a payment of $1,533 before taxes and insurance. Due to economic pressures, that same home may be closer to $325,000 today and the same 30-year fixed rate is now going for 3.75 percent. It means the payment on the exact same home with 20 percent down is now only $1,204. That’s a monthly savings of $319 with less money out of pocket for the exact same house.

So, the question is…how much longer are you going to sit on the sidelines and watch everyone else snag up these great deals? If you are thinking of purchasing a new home in PA or new homes in WV, then start your search at S&A Homes. We offer brand new, energy efficient homes from the low $100,000s and offer financing options that start at 2.25 percent.

For more information, please visit us on the web.

Related posts:

1. Own a PA New Home? Check Your Interest Rate
2. Adjustable Rate Mortgages: The Good, The Bad and…The Reality
3. Are PA New Homes Really Affordable?
4. Missed the Tax Credit? You’ve Saved Thousands!
5. Buyers Saved More than $1 Million on PA New Homes