Here is why some economists are projecting a strong spring for the Real Estate Market. Interest Rates are still at an all time low. Rates change daily but the short term forecast is for them to stay low.
The following rates are for Monday February 26, 2007 from http://www.bankrate.com/
LOAN TYPE TODAY LAST WEEK
30 yr fixed mtg 5.75% 5.77%
15 yr fixed mtg 5.52% 5.54%
5/1 ARM 5.54% 5.56%
30 yr fixed jumbo mtg 6.02% 6.02%
5/1 jumbo ARM 5.70% 5.70%
For all of those buyers out there that have been waiting to buy, there has never been a better time than now. Rates are low and home prices have leveled off from a recent decline. A Wall Street Investor (who is used to buying low and selling high) would say “BUY, BUY, BUY!”
If you need additional mortgage information visit Chad’s site at http://www.chadpeach.com/ and if you have Real Estate questions as always visit ryanpeach@firstrealtyhomes.com and either of us would be happy to assist you.
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