Have you seen what mortgage rates are doing! Today, rates for a 30 year fixed rate mortgage were 5%. Honestly, I never thought I would see that rate again, but it is back. But, the question is, how long will it stay. Current data indicates that due to the recent bailouts that rates are not going to rise anytime soon. Unfortunately, in this market, you just never know. My advice to you is if you are hunting for a new home, you should stay the course. Do not wait on an announced “possible’ rate reduction down to 4.5%. All indications are that this program will only be available to first time home buyers with excellent credit. All of this is assuming that the plan will be adopted. If you are looking to refinance, now is the time to pounce. Do not hesitate in this market. Rates have been changing several times per day due to volatility in the market and a lot of uncertainty. If you would like to discuss you financing options, please give me a call today. Chuck Walden 678-387-5580
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jeff donnely | July 31, 2009 at 4:32 pm #
Very timely data regarding mortgages and what to expect. Thanks for the info. Many people have similar situations in their lives.