Trying to purchase a Santa Clarita home lately? Haven’t pulled the trigger just yet? That decision has certainly cost you a bit of money, with respect to what your monthly payment is, and how much of that goes to interest.
Interest rates have been rising steadily, and from the data below, you can see how they’ve progressed since April 2008.
Sure home prices have continued to decrease in months past, here and there, definitely not in every community, but even if they have in the area you wish to purchase…the savings your getting in the form of a lower purchase price, can be, and is quite frequently becoming a wash in any savings due to the rise of interest rates.
Check out these figures, courtesy of Larry Ehrlich of GMAC Mortgage, located in Valencia:
Santa Clarita Home Loans: Interest Rate Changes
| AS OF DATE: | CONVENTIONAL LOAN | FHA LOAN |
|---|---|---|
| 6/17/08 | 6.5% | 6.5% |
| 6/3/08 | 6.25% | 6.125% |
| 5/20/08 | 6.0% | 6.0% |
| 5/6/08 | 6.0% | 6.0% |
| 4/15/08 | 5.875% | 5.75% |
| 4/1/08 | 5.875% | 5.75% |
If you’re looking to discuss interest rates, and different loan programs available to you, contact Larry Ehrlich of GMAC (a direct lender), at Lender@TheScvAgents.com, or just call 661-510-3585.
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