Here’s some cheery news for the Atlanta Condo market, and for the state of Georgia in general:  Georgia has the lowest average mortgage rate for the week ending January 25, according to Zillow.com.  Nationally, rates rose last week and Georgia’s average rate was 4.9%.

For the qualified buyer (with good credit, and solid income history) the opportunities for buying a really nice Atlanta Condominium home are out there.  With these low rates and the selection of inventory on the market, buyers have choices they did not have a few years ago, and the chance to make some very sweet deals.

Georgia was tied with Florida for the lowest average rate.  In both states, there is an abundance of housing, particularly in the condo market.  If you are waiting for the “bottom” in Atlanta, you may find that you don’t want to wait too long.  Prices may adjust further in select markets, but it is unlikely you will see interest rates like this once the prices start to head higher.

Remember, when it comes to affording a home, it is all about your monthly payment.  That includes mortgage interest and principal, taxes, and homeowners insurance.  If your interest rate is low, that is so much better for your monthly payment – and it means that you can afford to borrow more in a mortgage.

With home prices down, and interest rates down, Atlanta buyers, what are you waiting for?  Call me to show you your new home today!

Remember when you buy with CondoDomain in Atlanta you save thousands via our commission refund business model.  On average our clients get back more than $10,000 cash back at closing!  (Learn More)