Loan Rates Historic Low!

30 year fixed FHA at 4.12%! Nothing else to be said. Now, who is going to take advantage of 40 year highs in home buying affordability?

Mortgage Rates Keep Falling – 30 YearFixed Near Record Low

Here are some interesting quotes from CNN Money. No wonder home buying affordability is at a 40 year high!

Just when it seemed mortgage rates weren't going to get any lower, they started testing new lows.
In the tumultuous days following Standard & Poor's debt downgrades, rates on 30-year fixed mortgages fell to 4.32%, down from 4.39% last week and closed in on a record low of 4.17%. Rates on 15-year fixed mortgages set a new record falling to 3.5%, down from 3.54%.

The savings for borrowers who lock in rock-bottom rates over the length of a mortgage loan can be sizable. For example, a $200,000, 30-year loan with a 4.32% rate generates a monthly payment of just $992, and total interest payments of $157,153. A 5% rate (ordinarily considered low), generates a $1,074 a month payment and $29,357 more in interest over 30 years.

Help – I Hate my Closet!

We are in and out of homes every day. We see lots of closets that are jammed full and bursting at the seams. Even homes that are large and spacious suffer from crowded closet disease. What to do? Here are some ideas I just came across.

Mortgage Rates Plunge!

Interest rates are the lowest they have been all year. It's a good time to jump off the fence and take advantage of historic lows. Who’s the next person you know that would like to cash in on the 40 year home affordability advantage?