According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history!
The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.
Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.
The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month.
With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.
Act now to get the most house for your hard-earned money. Executive Construction Homes has houses ready to move into NOW- Start saving money in 2017! Ask about the energy savings all of our homes deliver!
About Columbia, SC
Named for the sprawling “rich land” that supported hearty indigo and cotton plantations for generations, Richland County today is home to a diverse population of more than 390,000 residents.
The County was carved out of the Camden District in 1785 and flourished with rolling farmland as important trade routes were established along the Santee, Congaree and Saluda rivers. In 1786, the state capital was relocated from coastal Charleston to the geographic center of the state, and a new city was born. Once Columbia was established as the state capital and county seat, Richland County’s boundaries were formally incorporated on Dec. 18, 1799.
Read More (credits to Richland County Gov Page)The County was carved out of the Camden District in 1785 and flourished with rolling farmland as important trade routes were established along the Santee, Congaree and Saluda rivers. In 1786, the state capital was relocated from coastal Charleston to the geographic center of the state, and a new city was born. Once Columbia was established as the state capital and county seat, Richland County’s boundaries were formally incorporated on Dec. 18, 1799.
Read More (credits to Richland County Gov Page)Like this:
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Published by Eddie Yandle
Eddie and Shanna Yandle are the owners and founders of Executive Construction Homes. Eddie Yandle has been in the building industry his entire life. In 1985, Eddie started working full time with his father, George (Butch) Yandle, in the underground utilities business.
Eddie built his first personal home in 1989, soon after that he met his wife, Shanna. They quickly built four homes together and Eddie started the beginning of Executive Construction Homes, LLC. Eddie Yandle became focused on building with superior quality and enduring value. Shanna now serves as office manager while Eddie keeps busy in the field. Staying involved in the building process is very important to Eddie Yandle. From designing the home, to personally inspecting the details, Eddie ensures the home is what the customer expected at their purchase contract. Eddie and Shanna are now raising two beautiful children.
Continuing to be a responsible contributor to the community, Executive Construction Homes supports a variety of organizations.
Executive Construction Homes is recognized in the Directory of Professionals with Home Building Designations with the National Association of Homebuilders and received many endorsements and recommendations from their clients.
In 2012, Eddie Yandle has met all the requirements for membership and has been voted by the Master Builder Committee to be accepted as a Certified Master Builder of South Carolina (CMB). In order to reach this level, Yandle had to participate in 20 hours of continuing education, provide reference letters from customers and business associates, assure a one-year warranty on all his homes and show at least five years’ experience in home building. The education alone sets him apart from all other builders because the state of South Carolina does not require licensed builders to maintain any level of continuing education.
Eddie Yandle, of Executive Construction Homes is now one of the select groups of professionals nationwide to earn the Certified Green Professional (CGP) educational designation, identifying him as an Owner/Homebuilder with the skills and the best strategies for incorporating green building principles into new home and remodeling projects. The CGP curriculum includes three days of training from leading building industry practitioners and academics on a range of topics, including strategies for integrating green building principles into homes using cost-effective methods of construction.
Continuing to create custom homes, Executive Construction Homes is a builder in Columbia, Elgin, Lexington, Lake Murray, and Irmo. The professional staff works with a variety of floor plans, neighborhoods and is a respected homebuilder in South Carolina.
Executive Construction Homes, LLC is a multi award-winning builder being recognized by the Greater Columbia Home Builders Association. Eddie spends his free time not only with his family but other community related functions. Together the Yandles’ involvement in the Columbia, SC area has brought over 600 new homes to families as of January 2014.
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