Hi everyone. Thanks for downloading the Money Girl Podcast.

I'm Laura Adams, the author of Money Girls Smart Moves to Grow Rich.

It's available at your favorite bookstore in print or is an e-book for your PC, Mac, e-reader, or smartphone.

Since the Mortgage Crisis Mac, E- Reader, or smartphone.

Since the mortgage crisis, whether it's better to own or rent your home

has been a controversial topic.

Some people have sworn off home ownership forever, and others have decided that there's never been a better time to buy multiple properties.

No matter your opinion, you should understand the five major financial benefits that homeowners receive

so you can evaluate if becoming one is right for you.

Benefit number one, paying a low mortgage rate.

Undoubtedly one of the best reasons to make the leap into home ownership right now

is that borrowing money is cheap.

Interest rates are at historic lows, below 4% for a 30-year fixed rate mortgage and below 3.25% for a 15-year

term.

Here's an example using the current interest rates.

The principal and interest you'd pay for a fixed rate mortgage of $150,000,

cost about $700 a month over 30 years, or $1,000 a month over 30 years or 1,000 a month for 15 years.

10 years ago, these same mortgages would have cost 1,000 a month for the 30 year option

and close to 1,300 a month for the 30-year option and close to 1,300 a month for the 15-year loan

because the interest rates were higher. Over the long run, low interest rates can

make owning a home much cheaper than renting in many parts of the country.

Of course you have to factor in additional expenses such as property tax, insurance,

...