Is now a good time to buy or did I miss out? You haven't missed out, now is still a great time to buy! It’s true, interest rates have continued to edge up over the past couple of years from an amazingly low 3.5%, but you have to keep in mind, the rates we are seeing today are still at historical lows. Current rates on a 30 year fixed rate mortgage are still under 4.5%, compared to an average of 7% to 9% in the 2000’s and rates as high as 18% in the 1980’s. For example, based on a $150,000 house financed at an average mortgage rate of 8.6% in the early to mid 2000’s, your payment would have been $1164.02 vs a mortgage rate of 4.5% today, your payment would be $760.03, a savings of $403.99 per month. No one can forecast for sure, where interest rates might go from here, but all trends are that they will continue to increase. According to national data, home prices are continuing to increase also. The data shows a price increase of 10% to 13% from 2012 to 2013. The market in our area tends to react a little slower than the national average. According to data from the local MLS, sold housing prices in Williamson County rose approximately .5% from 2012 to 2013, with 11% growth in home sales. So, housing prices are still down in our area and have not fully recovered at this point. While the market is continuing to recover in Williamson County, the combination of low interest rates and lower housing prices makes it a good time to afford that Dream Home you’ve been thinking about. For more information on this topic or information on Buying or Selling a home. Visit us at or give us a call at 618-922-3895.