We have been going through old files and found Paula's business card from 1999. What we found most interesting is the interest rates on the low end are 6.0% and on the high end 13.0%! Yes we had 2% rates but we all knew that wasn't going to last forever. In 1999 when this card was used a loaf of bread cost $1.58, a gallon of gas was $1.25 and a split level home in St. Charles with 4 bedrooms and 2 baths was $162,000. Would we like to go back to those prices yes, but then income was less too. The minimum wage was only $5.65 per hour then and it is now $13.00 per hour and increase of more than 50%! Do you know what else increased at that value? That split level home which is now valued at around $300,000. What is the one thing that stayed the same? Interest rates! Why are people afraid of the interest rates now? Those same interest rates that were 6.0% on the low side are now approximately 6.125%. Don't forget when the rates go down again you can just refinance. There are so many variables that go into interest rates and we work with professional lenders that have been in this buisness through many ups and downs. We have great tips on how to get your rates as low as possible. Ask us how. Now is a great time to buy and we are here to help.
