Mortgage rates are at all all time low!

History is showing us that mortgage rates are now at an all time low.  YEAH, if you looked at mortgage rates a month age they were at 4.5% and now they are at 5.5% (on average for 30 year fixed).  Still they are at an all time low.  Did you expect rates to go under 4.5%?  Did you wait to purchase your home becaue you thoughts rates were going lower?  Did you think that you could sit on the fence and time the market perfectly? 

Well........you missed it!  But have no fear, rates are still incredible!  If you are sitting back right now and saying to your loan officer or Realtor that you won't lock until they get below 5%, then you are taking a risk that is unlikely to play out.  If you are saying to your Realtor that you will only take this deal if you can get a sub 5% interest rate with NO points, then again; you are hedging a 1000 to 1 bet.  Sorry it's not gonna happen.

Let me be the one to tell you the hard facts.  Unfortunately in life there are a few things that you can absolutely guarantee:

1. You need oxygen to breathe
2. You must pay taxes (or go to jail)
3. Life is too short
4. The economy will recover (in fact it already is, or we would have better interest rates)
5. Concrete will crack (this one's for my New Home friends) :-)
6. Mother nature answers to nobody (much like my mom - Love ya Mom!)
7. You can't predict the future
8. You can't bank on winning the lottery
9. Casino's always win
10. INTEREST RATES WILL GO UP (GET OFF YOUR BUTT!)

For those of us on the fence or trying to begotiate the absolute perfect deal.  STOP!! DROP!! and ROLL yourself into and agreement.  Each day you wait, you are potentially costing yourself the ability to buy that hme you want.  Don't wait!!  Move forward.  If you liked the home before, then don't lose the home to someone who is willing to move forward.

I've wathced too many people try to time the market and get burnt.  Don't let it happen to you.

Hey Realtor friends, hit the comment button to tell me whether you agree ro disagree.  Or sit back and do nothing! :-(

Marc Hargraves, CNHS

Real Estate and Sales Trainer