Kim Carpenter, Indianapolis Realtor
My Blog

How long can rates stay this low?

January 28, 2013 by · Leave a Comment 

If you have been around for a while and purchased a home in the early 80’s you know that interest rates today are at historic lows.  I know this well because my husband and I purchased our first home in 1983 at 13%.  Seeing the graphic below from Dan Runge of Prime Lending graphically displays the  fall of mortgage interest rates over the last 3 years.

For example if you had purchased a home in 1983 for $200,ooo with 3.5% down your principal and interest payment would have been approximately $2,171.23 at today’s rate your principal and interest payment would be approximately $851.64.  If you could afford a P&I payment of $2,171.23 today, you could buy a home in the range of $492,000.

Interest rate graphic

If this does not get you off the fence, what will?  Call me for an appointment today our inventory levels are very low (down approximately 12.6% from 12/11 – 12/12 in Fishers, see graphic below) and homes are selling!

**Calculations above are estimates only and are for illustration, call the lender of your choice for more accurate figures**


Tell us what you're thinking...

Kim Carpenter, Indianapolis Realtor

All Information believed to be reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Copyright © 2015 Metropolitan Indianapolis Board of REALTORS®. All rights reserved.