Now is the Time to Buy a Home

The current climate of the economy with the bail out expected this week has seen a rise in mortgage interest rates.  Rates have been on the rise for weeks, and I expect them to continue to go up.   Now is the time to lock in as low a rate as possible, at near historic lows.

 

Additionally, when the bailout gets going there will not be as much a since of urgency to unload the properties as the banks had. Therefor the attitude of fire sale prices on behalf of the seller will be gone.  Remember the government typically moves slowly.  Housing prices will not ever be as attractive as they are now.

 

If you look at the cost of the rise of rates over the length of the entire mortgage it costs more in interest cost to wait. This, coupled with home prices rising, will price home ownership out of reach of many.

 

Now is the time to find that home and buy it. Your local Real Estate Agent can locate some wonderful properties out there at great prices.  Your mortgage company can lock in a 30 year rate on that home and you will feel real smart with those steady payments for the next 30 years.

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