Awesome mortgage rates!
Awesome rates was the subject line in an email from one of my preferred lenders yesterday and awesome (or even amazing) are the best way to describe them.
Conventional and FHA 30 year fixed are quoted at 4.5%. Yep, you read that right, 4.5%. What that translates to is significantly improved affordability because your monthly payment for principal and interest is $5.07 per $1000 financed. Compare that to a really good rate of 5% with a corresponding payment of $5.37 per $1000 or to what everyone considered a great rate not too long ago of 6% with a corresponding payment of $6.00 per $1000.
Let's simplify all this and show you the payment (principal and interest only, taxes and insurance extra) for a typical $200,000 home for sale in the Charleston area.
$1013.37 at 4.5%
$1073.64 at 5.0%
$1200.00 at 6.0%
Let's take a look at non conforming loans, in other words, homes selling for over $417,000 and for a while, the spread between conforming and non conforming got very wide and so anyone considering purchasing luxury Charleston real estate couldn't get a decent rate. You'll see significant improvement here for jumbo loans as well.
How does 5.625% sound for a 30 year fixed loan. 
Contact me for more information.