The link to the article below on Yahoo is very telling. We have not had money this cheap to borrow, well in my lifetime and probably yours as well. I just had a customer lock in a rate for a new home under 4.3%. According to the article, 15-year mortgages dropped below 4%, the lowest on record. There really is no room for rates to drop. For those of you sitting on the fence, historical precedence says interest rates are going to climb, and climb high.
Now is the time to BUY! Banks are shedding inventory to shore up their balance sheets and the resulting push on market inventories have reduced prices greatly.
Depending on your market there are lots of programs to help you become a homeowner and with interest rates as low as we are seeing, your rent has to be higher. If you are an investor, well, it is the first time in recent history you could acquire properties at a decent cash flow that would create a passive income. A concept all but forgotten in the housing boom as investors only bought for equity positions.
http://news.yahoo.com/s/nm/20100811/bs_nm/us_usa_economy_mortgages
As always you can see my listing inventory at www.movingyouintothefuture.com
In the meantime, don’t let the future pass you by!
