Still Cheaper to Buy vs Rent in 100 Largest Metro Areas by 38%
By Jeanean Gendron, Specializing in Selling Unique Properties
(The Address Realty)
Trulia just released their Rent vs Buy Report and in the 100 largest metro areas, it still remains cheaper to buy than to rent by an average of 38%. In my opinion that is not surprising. The real estate markets have had a sweet time for Buyers in this last year with very attractive interest rates. Locking in a rate under 4% is stuff made dreams. I can remember 17% interest loans.The report goes on to say that these low interest rates have kept mortgage rates lower and less expensive than renting. With interest rates expected to rise in the coming year due to strengthing economy and the FED tapering off on controls, now would be the time to buy. There was another encouraging note and that was that rates would have to rise to 10.6% for renting to be cheaper than buying. We have not see th...
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