A great time to buy a home

But it’s up to you to spread the word

Do you know anyone who’s been on the fence for some time about buying a home? Explaining that interest rates have hit historical lows may move that person closer to acting, but a more-detailed picture can be even more persuasive. Take, for example, someone who can pay $1,000 toward principal and interest. Comparing today’s 30-year fixed rate of 5.26% to a year ago at 6.81% (Freddie Mac numbers), that person could afford $27,655 more house. And if you’re in a market where home values have dipped a bit recently, a buyer is in even better position to get more for her money.

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