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Buyers Be Happy - Mortgage Interest Rates Are Still Amazingly Low

By Randy L. Prothero

Real Estate Agent with eXp Realty 2021016812

July 15, 2010 09:40 PM

For the last two years or more we have been warned that interest rates would be back up to 7% or 8% by many experts. To my delight they are now even lower than when the warnings began.

How long will this last? I don't believe anyone knows. The experts have predicted wrong consistently. The one thing we know for sure is that money is cheap. Loans are not as easy to get as in the past, but if you have good credit they are still loaning money.

If you are looking to purchase a home, find a top real estate agent and an experienced loan officer. If you are looking to purchase on Oahu please look me up. I would be honored to help guide you through the process.

If you are looking in other parts of the country, I can help pre-screen agents to assist you in finding a top agent for that market.

Good Luck and Happy House Hunting!

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Todd & Devona Garrigus

Garrigus Real Estate - Beaumont, CA

Broker / REALTORS®

Mortgage rates are ridiculously low!!! That can really cut a payment down. Couple that with the the houses prices now can equal a great deal!

Jul 15, 2010 09:57 PM

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Randy, yes great deals to be had with the rates and prices. But, you better have good credit and a down payment.

Jul 16, 2010 12:34 AM

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

Randi..There are many out there that are waiting for the prices to go down. They may find that with higher rates which will make the home more expensive in the long run.

Jul 16, 2010 01:48 AM

Randy L. Prothero

eXp Realty - Hollister, MO

Missouri REALTOR, (808) 384-5645

T&D - It can really effect how much of a loan amount people can afford.

Gabe - Many of my buyers do not have a downpayment. There is still VA and USDA loans out there. Others need the 3.5% for FHA.

William - That is different in each market. I am seeing prices leveled in many areas that I service.

Jul 16, 2010 04:27 AM

John Walters

Frank Rubi Real Estate - Slidell, LA

Licensed in Louisiana

Randy I recently heard on CNBC that history shows with our current economic crossroads that these rates could be around for 10 to 20 years. Can you believe that? They are using Japan as a comparison.

Jul 17, 2010 10:57 PM

John - I don't believe any predictions from the TV experts. Anything is possible. The other TV experts predicted 8% awhile ago.

Jul 18, 2010 06:56 PM

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Randy, the pundits kept saying for 10 years that interest rates will go up, now I am starting to believe it will, in the meantime buyers should take advantage of this 50 year low rates.

Jul 19, 2010 06:23 PM

Endre - I think if I predict they will go up, I am pretty safe. When is the question.

Jul 19, 2010 07:37 PM

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Randy L. Prothero

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