Kentucky Mortgage Rates;
We are seeing a turnaround in the Kentucky housing market from a sellers market to a buyers market. A few years ago, sellers were able to dictate terms as there had a steady supply of buyers. In recent times, buyers are now in the driving seat – prices are competitive, interest rates are low and there is a great selection of homes to choose from.
So even if a homeowner is concerned that their value of their home has dropped and may be reluctant to move. The chances are that their prospective home’s price has also dropped and is still affordable. For first time buyers, this is a perfect time to enter the market and there are great bargains to be had. Prices are affordable and interest rates are low. This is the time to take advantage of these favorable market conditions.
Buyers definitely have the upper hand and it hasn’t been this good for buyers for a few years – mortgages are affordable, you can get more home for your buck, sellers are offering great incentives, lots of homes to choose from and realistic prices. Investing in property is still a secure long term investment and the best bargains are usually available in a buyers market.
So, do your research into the area you wish to buy in, compare the prices and when you’re ready – get yourself the right home at the right price.
Below are examples of rates currently being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.7% to 6.625%
15 Yr Fixed : rates from 5.5% to 6.375%
1 Yr ARM : rates from 5.25% to 6.75%
3/1 ARM: rates from 5% to 6.375%
5/1 ARM : rates from 5.375% to 6.5%
For loans above $417,000
30 Yr Fixed Jumbo :rates from 5.875% to 6.75%
15 Yr Fixed Jumbo : rates from 5.75% to 6.625%
1 Yr ARM Jumbo : rates from 5% to 6.5%
3/1 ARM Jumbo : rates from 5.375% to 6.625%
5.1 ARM Jumbo : rates from 5.625% to 6.625%
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Major Kentucky
Cities;
Lexington
Louisville |
