01-29-2013, 05:52 PM | #1 |
Senior Member
Join Date: Jan 2006
Location: NOVA
Posts: 3,005
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Who here has taken advantage of low interest rates?
The rate for 30-year fixed is around 3.5%.
Inflation historically is 2.5%. That means a real interest rate of only 1%. With interest rates in savings accounts at 0.5%, there is no point in holding on to money (other than for emergency funds). I've gotten two 3-bedroom homes in Northern Virginia and refi'd twice. One is on a 15-year loan. It's also easy to find renters now that no one is buying and the renter's market is flooded. I've had no vacancies for 2 years.
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