The low mortgag
e rates are very good for buyers of Palatine IL real estate. Mortgage rates are hovering at about 4.44% for a 30 year fixed rate mortgage. These rates are low and are even more interesting when compared with mortgage rates over the years. In 1970 mortgage rates averaged 7%, in 1980 they averaged just over 12%, thirty years later here they are hovering around 4.5%. What does this mean for Palatine real estate? Two things: firstly mortgage rates may not be this low again for decades, secondly it is absolutely a buyers market in Palatine.
The low mortgage rates aren’t the only factor in making it a great time to buy a home in Palatine. Low home values and high inventory combine to create an ideal time to buy for those who can qualify for a mortgage. There is a nice variety of available homes in Palatine Illinois at the moment. If you would like to learn more about Palatine real estate please contact me today.
Please contact me, Sharron Kelley, today at 847-465-3638, for the latest updates on Palatine Illinois real estate. Click here for free access to the Palatine MLS, to view all available real estate in Buffalo Grove, Long Grove, Vernon Hills and Palatine Illinois.
