Fantastic Interest Rates

Current mortgage interest rates are now at 5.25% for 30 year fixed. This is lower than the interest rates have been in some time and over the life of the loan, the reduction of previous rates that were 1% higher could be substantial. If you have reasonably good credit and a consistent employment history, this could be an excellent time to purchase. Prices are lower per square foot than they have been in years.

Of course, many people are waiting to see if prices will drop even further. However, there is no reason to believe that the rates will remain this low or go lower, though there have been rumors to that effect. It is my opinion, as a realtor for more than ten years, that these winter prices in an already quiet market coupled with the low interest rates adds up to great deals. It takes some wearwithal to buy when others are hesitating, but I believe this is an excellent time to purchase.