Record Low Interest Rates

Interest rates are at all time lows and here’s why it’s so important to you. 

Homeowner not looking to sell: If you own a home and haven’t refinanced sometime in the recent past, or even if you have, it may be a good idea to reach out to a trusted mortgage professional. Interest rates are at an all time low close to 3% for a 30 year fixed and just over 2.5% for a 15 year fixed. With these rate changes you may be able to save hundreds of dollars every month or continue making the same monthly payment and pay down your loan faster. At the very minimum it may be worth talking with a trusted mortgage professional so that you’re in a position to make informed decisions. 

Homeowner not looking to sell II: This is a tough one for me to advise on because I’d hate to see anyone become over leveraged. However, if you have substantial equity in your home you may want to think about cashing some of that out to pay off other debt or buy an investment property. 

Buyer looking to buy later in the year: If you’ve considered buying sometime in the next year, because of the record low interest rates you may want to consider looking at what your options are now. You may not need the down payment amount that you thought you did. Also, with these low interest rates your buying power is stronger now than ever before. The way I like to look at it is when you’re buying a home you’re not buying that $700,000 house. That number is large and can be scary. Don’t let that deter you. What you’re really buying is the $3,050(approx.) a month mortgage payment(includes principle, taxes, insurance). As interest rates go up, so does your monthly payment for the same home at the same price. At the very minimum it may be worth talking with a trusted realtor so you can make informed decisions. 

Buyer currently looking in today’s market: This market is highly competitive and it can be frustrating. However, rates just dropped 0.5-0.75% and the fed just announced another rate cut. What this means for you is that your buying power just got stronger. Last week you were pre-approved up to a specific number and now with these rate cuts that pre-approval may have increased by 30,40,50k or more. Don’t let the competitive market bully you out of buying a home now. Stick with it and take advantage of these record low interest rates. 

I don’t want to call it FREE money but with interest rates as low as 3.1% that’s borrowing money at a historically low cost giving some good options to work with. 

Stay tuned for Coming Soon articles that may answer some questions that this post may have sparked: 

  • Best time to Sell
  • How long does it take to close on a home?
  • Does staging make a difference?
  • Relationship between home price and days on market
  • Does a higher down payment help with negotiations?
  • What are Closing Costs and who pays them?


If you have specific questions or would like to set up an in-person meeting to discuss your scenario, please call or email me directly at 703-915-2244 / [email protected]. If you enjoyed this post and would like access to more of my articles/videos, visit the video/blog section of my website at:


Jason Curry

Licensed Realtor: VA & DC

J Curry Group at KW Metro Center

2101 Wilson Blvd #100

Arlington, VA 22201


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About the Author

Jason Curry, founding owner of the J Curry Group, based in Arlington, VA, has a long record of successfully guiding his clients through the home buying and selling process. He epitomizes integrity, energy, hard work, and creative service in every detail of your residential real estate transaction and he has represented sellers, buyers, and investors. Jason is annually a top producer in the area and is respected among clients and colleagues. Jason specializes in applying his expertise and market knowledge to residential properties that consistently exceed the personal and investment goals of his clients. He recognizes the importance of customer service in the real estate industry, and has developed systems and processes to ensure pleased and profitable clients. Grateful for an amazing group of neighborhood friends and contacts, Jason makes sure that new residents are welcomed in a way that has become customary in the Northern Virginia area. Jason is a lifelong resident of the DMV and is a proud alum of George Mason University where he earned his Bachelors degree.