Now is the time to take advantage of the lowest interest rates in history, along with all the tax breaks, such as the 8,000 tax credit being extended through June of 2010 and the new tax creit of $6,500 for those who have previously owned a home but would like to purchase again, i think these tools from the government will help to even out the housing market and stabilize home values.
So if you are looking to purchase your first or even your 2nd or third home you now have every reason to buy now!
Home prices are at an all time low , 30 year fixed mortgage rates are as low as 4.75% and 4.25% on 15 year fixed loans, its like buying a stock when its low , buy low sell high!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Freddie Mac is reporting that the average commitment rate for a 30-year, conventional fixed rate loan has dropped to a September low of just 5.06 percent. These mortgage rates are down considerably from one year ago when the 30-year fixed rate loan was offered at 6.04 percent.
With the US economy still in recovery, the Federal Reserve has maintained low lending rates for member banks. The existing Fed Funds Rate of 0-0.25 percent has lead to the lowest prime rate in decades, hovering around 3.25 percent. Although the economy started growing again last quarter, many experts believe the Fed will continue to keep rates low, at least until the recovery gains traction. Many home buyers are finding excellent financing opportunities as a result.
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Professional Mortgage Loan Specialist
Christian Roberts Mortgage
512 E Winchester Plaza
Murray, UT 84107
(801) 604-4949 mobile
(801) 716-5237 office
(888) 880-3472 direct fax