In my blog yesterday I talked about buyers, sellers and agents and the need to be rational and realistic for the market to work. Well I did hear from some of you regarding Lenders, Rates and Foreclosures but I am only going to address rates and say something about foreclosures.
Interest rates have bounced up one day then down the next. There is definite instability in the market at this time and that's something we have to deal with. By the way, even if rates go up, they are still very attractive. A trip down memory lane reminds me that back in the 1980's rates were in the teens and you had to come up with 20% downpayment. Today you can get rates at about 6% - 7% with little or no downpayment and that's pretty good. I believe that today's interest rates are attractive and should motivate buyers to go out and buy homes. Foreclosures are what they are and can be a very good investment for the prudent buyer or investor.
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