Real Estate in Northeast Florida and Around the World

I heard this recently when the home loan interest rates popped up from their 4.875%.  I had to chuckle to myself and then remind the person that it was time to put everything into perspective.

6% is still very, very low.  We are talking historical low.  Maybe not the lowest in history, but if you look at home mortgage rates say over the last 30 years, it is a rare occasion that you see it dipping in the 6% range, much less sitting at 6%.  I just returned from a trip that included a stop in St. Petersburg, Russia that allowed you to borrow money for a home at the rate of 24%.

So, America, let's put this into perspective.  Paying 6% to finance a roof over your head, make a long term investment into your financial wealth bucket, and have your own little corner of the world to call your own - that is pretty darn cheap in my book.  I remember rates at 19% (oops, I'm dating myself), and guess what - people were buying homes. And oh, but the way - The United States of America is still the safest country in the world to put your money - and owning a chunk of that ground is about the safest bet in town.

So - we should be considering ourselves fortunate to have access to money - that is when we demonstrate the ability to repay that money - at a very reasonable rate. 

See ya around the neighborhood!