FREE MONEY!…well almost. If your credit is good you may qualify for a historically low interest rate around 4.25%. After you itemize and take the mortgage deduction your net interest expense is near 3.5%, which is lower than the current rate of inflation. In other words, if you put your money under the mattress it will devalue by 3.9% (current rate of inflation).
Put your money to work. Ultra low interest rates when coupled with great inventory make this the best time to purchase property. In many areas it is now less costly to purchase than it is to rent a comparable home.
Ralph White, Realtor at Prudential Page Realty, Medfield, MA
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