I noticed last week that interest rates for 30 year home loans edged down again and are close to record lows, which provides another excellent opportunity for home buyers to save money. The average rate was 5.04, which is really a great rate! It seems the Fed’s strategy to spend over $1.25 trillion on mortgage backed securities is having the desired effect of driving down rates for home loans. Apparently that money will run out by winter and will most likely result in a rising trend for rates about six months from now.
I hear early reports that we are beginning to work our way out of recession even though it doesn’t feel like it yet. Low interest rates, combined with low prices, combined with the $8,000 First Time Home Buyer’s grant, provides an awesome opportunity for buyers. I think I sound like a broken record, but it is true!
Who do you know that’s ready to cash in on this once in a generation opportunity?
Thanks for helping me better serve our Real Estate Community
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