Interest Rate, how low can you go!

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Tuesday, 31 August 2010

Interest Rate, how low can you go!

Wow, If you had told me that interest rates would be down to 3.5% in August 2010 I would not have believed it. But then if you told me the economy would be down this low, I would have had trouble believing that also.

In all my years as a Realtor, honestly I have never seen a better time to buy a home, if you have credit and some money down. I am not moved by people who are saying it is not a good time to buy. Logic says better and honestly, not to mention banks, that had rather you wait until the rates go back up.

Look at it this way, your rent now is higher because of the demand for rentals where people have lost homes and jobs and have to rent because there are no alternatives. Bankruptcy filings are at a all time high as people are drowning in credit card debt and the federal government has been slow to do any thing about it because of heavy lobbyist pressure in Washington to keep it from happening.

So if your paying rent of about $750 a month, you can now buy a home for about $100,000 at current interest rates and then gain the tax benefit of writing off interest and taxes. Let logic rule and check it out for yourself.

Call Mary Woods and I can guide you to the loan officer that will handle all the details for you and I will guide you in your home search. Start searching today on elliscountymoves.com, its free and no obligation, when your ready to look, call Mary.

POSTED BY: Mary Woods AT 01:30 pm | Permalink | E-mail this

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