Did you know that it is actually cheaper to own a home than to rent one? Low interest rates have made owning a home easier for many people.
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A recent study by GOBankingRates looked at the costs of renting vs. owning a home at the state level. The study concluded that in 36 states, it’s actually cheaper to own a home than to rent one.
One reason owning a home has remained significantly less expensive than renting one is that interest rates have remained near historic lows. Nationally, interest rates would have to rise 10.6% for renting to be cheaper than buying, and rates haven’t been that high since 1989.
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Interest rates would have to jump 10.6% for renting to be cheaper than buying.
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Buying a house makes sense socially and financially. If you are one of many renters who would like to analyze the possibility of buying a home this year, or if you have any other real estate questions, give my team a call. We would be happy to help you!
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Wisconsin Mortgage Corporation has been providing quality home loans across Wisconsin.Meet our loan officers. Please choose the loan officer that you were referred to view their personal page and apply online.Wisconsin FHA Each loan officer's page includes the following services.
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