Mortgage rates have hit a new record low for the 10th time in 11 weeks as investors continue to turn to Treasury bonds as a safe haven; the shift in money is cutting yields, which mortgage rates tend to follow. Freddie Mac reports that 30-year fixed loans averaged 4.32 percent, down from 4.36 percent a week ago; and the 15-year fixed rate fell to a new low of 3.83 percent, down from 3.86 percent.
Source: Chicago Sun-Times (09/03/10)
Now is a phenomenal time to buy if you are:
- First-time home buyers with good credit and a small down payment
- Investors (new or seasoned) looking for rentals may make more sense than flipping right now.
- It's a buyer's market
- Financing costs are down
- Prices are the lowest they've been in years
- Home Values will come back...wait it out with a quality rental on Maui
On Maui we have turn-key rentals available at phenomenal prices. In many cases you will more than cover your normal monthly expenses and still reap all the tax benefits and write offs available.
Did you know you can use a self directed IRA to purchase investment property?
For more information and Maui's Best Buys contact me direct at 808-633-1292 or send me an email at JeffGraves@clearWire.net
Jeff Graves I Realtor®(S)
Coldwell Banker Island Properties
34 Wailea Gateway Place, A-207
Wailea, Maui, Hawaii 96753