Georgia Mortgage Rates;
The booming housing market in Georgia in 204 and 2005 has slowed down considerably. The days of double digit price increases are over and the market is now stabilizing. The future doesn’t look bleak as interest rates are still low, unemployment is still low and the economy is growing.
Home prices will balance out over time and there will be a soft landing for the market. Georgia’s housing market was not particularly over heated, so the downturn will be shallower and shorter.
There are many reasons for potential buyers to enter the market – lower prices, seller incentives, bigger choice of homes, and low interest rates. Many people now feel that this is the perfect time to buy a home. The market will pick up in the long term and buyers who enter the market now will reap the benefits in the long run.
Below are examples of rates currently being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.375% to 6.5%
15 Yr fixed : rates from 5.125% to 6.25%
1 Yr ARM : rates from 4.375% to 6.750%
3/1 ARM : rates from 5.125% to 6.5%
5/1 ARM : rates from 5.375% to 6.5%
For loans above $417,000
30 Yr Fixed Jumbo : rates from, 5.875% to 6.625%
15 Yr Fixed Jumbo : rates from 5.625% to 6.625%
1 Yr ARM Jumbo : rates from 4.25% to 6.875%
3/1 ARM Jumbo : rates from 5.125% to 6.625%
5/1 ARM Jumbo : rates from 5.375% to 6.5%
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Major Georgia
Cities;
Athens
Atlanta
Augusta
Columbus
Macon |
