See on Scoop.it – Charlotte Real Estate
With mortgage rates so low now, buying a home can be cheaper than renting, economist says.
Why rent when you can buy? This should be eye-opening for those who think that renting is even an option! Essentially, you can purchase two homes for the same price as renting one! The choice is clear. If you need the name of a great lender who can get you pre-approved for a home loan, we’re happy to help. This is a great time to purchase before the interest rates rise even further – and home prices continue to rise!
"The map shows that, at 3.5 percent, buying in Charlotte is 52 percent cheaper than renting. That’s well above the national average Kolko cited. At 4.5 percent, buying here is 47 percent cheaper than renting. When mortgage rates hit 5.5 percent… buying in Charlotte will still be 42 percent cheaper than renting."
See on www.charlotteobserver.com