Cost of a Home: Impact of Interest Rates

Love this KCM post from Tuesday titled Cost of a Home.    For all you renting please consider what your rents were five years ago and imagine what they will be five years from now.  We have a few rental properties worth around $200,000.  They  rent for $1,200 a month and the same home you could own for $900 a month principle and interest! 

 This is the post and the chart enjoy!

The buyer should always look at the COST of a home, not just the PRICE. The cost is determined by the price and the mortgage interest rate which is available at the time. Below is a list of the interest rates over the last ten years and the impact they have on a $100,000 mortgage payment.

Call, text or email Mark or Monte with the Jones team today to learn how to stop renting and start owning!   We specialize in helping buyers all along the Wasatch front including:

Salt Lake County areas and homes the Jones Team Covers:
Salt Lake, Bluffdale, Draper, Holladay, Kearns, Magna, Midvale, Murray, Riverton, Sandy, South Jordan, South Salt Lake, Taylorsville, West Jordan, West Valley, Herriman, Cottonwood Heights

Davis County Areas and Homes the Jones Team Covers:
Bountiful, Centerville, Clearfield, Clinton, Farmington, Fruit Heights, Kaysville, Layton, North Salt Lake, South Weber, Sunset, Syracuse, West Bountiful, West Point, Woods Cross, South Hooper

Utah Counties and Homes the Jones Team Covers:
Alpine, American Fork, Highland, Lehi, Lindon, Orem, Pleasant Grove, Provo, Vineyard, Saratoga Springs, Eagle Mountain,