Home > Blogs > Jeff Adie > Eastman Lake NH

Interest Rates

By Jeff Adie

Real Estate Agent with Country Houses Real Estate

November 26, 2008 08:51 AM

I like what I am seeing recently! Interest rates coming down quite steeply over the last week to 10 days.

I have been complaining for months that what is needed for a recovery is for interest rates to come down. Today I saw a local bank with with a 30 year fixed rate two points, for 5.375% the no point loan was 6%

Still these rates are not quite as low as they were this summer. I believe and hope that we can beat the summer lows, buyers could then buy again and people on the edge can refinance and stave off foreclosure.

Keep a lookout for activity to start picking up as we head into December. If rates continue in a down direction December will be an unusually busy month!

Re-Blog

Comments(6)

Comment

Show All Comments

Sort:

Maggie Baumbach

Search Homes for Sale in Maryland at HelpShop.com - Reisterstown, MD

I am liking the trend too! My broker was just saying that the rates are responding much quicker than usual.

Nov 26, 2008 08:59 AM

Jeff Adie

Country Houses Real Estate - Grantham, NH

GRI, NAR Green Designation

Thanks Maggie! Keep your fingers crossed that they continue to fall!

Happy Thanksgiving

Nov 26, 2008 09:06 AM

Sean Dreznin

NAI Tampa Bay - Sarasota, FL

Commercial Investment Real Estate Agent

Jeff,

Rates are low, but good credit is not easing. It's nice to see low prices in the store window, but if you can't get in the store, it doesn't make much difference.

I hope credit eases in the future.

Sean

Nov 26, 2008 09:11 AM

Michael A. Caruso

Surterre Properties - Laguna Niguel, CA

rates are the key to a buying surge that would clean out some inventory. People fear that it would start another surge. Seriously, it won't. But we must move out some inventory to get to the bottom eveyone is calling for.

Nov 26, 2008 09:53 AM

Diane Daley

Caron's Gateway Real Estate - Northumberland, NH

The rates are becoming very favorable for the market to pick up... good qualified 680 + score buyers should start surfacing... Now is a great time to buy...

Nov 28, 2008 12:28 AM

Jeff Adie

Country Houses Real Estate - Grantham, NH

GRI, NAR Green Designation

Thanks Diane, I bet rates will drop next week too and some investors that have been waiting on the sidelines should be jumping into the market. A lot depends on how bad they got hit in the stock market too. If they were smart, some real estate investmante are looking ripe for picking!

Nov 28, 2008 11:35 AM