LOOKING FOR A HOME? It may be your lucky day!
Check out this graph. Look at all the factors…
Affordability way high….mortgage rates way low… amazing selection of homes available… prices way down… AND DRUM ROLL PLEASE …….
If you’re a first time home buyer, a $7,500.00 repayable tax credit may be available …
What does this graph mean? The graph shows an index where 100 means a family has just enough money to qualify for a mortgage. A number over 100 means that family has more than enough to qualify. Note that we are at affordability levels not seen since the early 90’s when a monster refi boom was taking place AND….AND…this data is only thru October. When the ridiculously low current mortgage rates and even lower property values are input, the index should be off the charts!
