It’s all over the news these days, record low interest rates are creating the opportunity of a lifetime and then some. But what does that mean really? Put in context: Some 50 years ago in a small northern Wisconsin town my parents used the GI bill to purchase their first home with what was then the fabulous rate of 6%. Across the board in 2021 mortgage interest rates are ranging below 3% and even closer to 2% in some cases. Just a 1% lower rate on $200,000 saves a person $40,000 over the life of a 30 year loan.
So whatever your goal, be it consolidating high cost debt, paying your mortgage off sooner or just lowering your monthly payments to protect against life’s uncertainties, do not hesitate! Contact your local PyraMax Bank mortgage expert today. For peace of mind make 2021 your new financial beginning.
Gary White- Community Development Manager