Down-arrow The New York Times published an article Friday stating that now is the time for first time home-buyers to take advantage of the market.  It's an interesting read, but the cliff notes version of it is that interest rates are below 5.5% right now, and it's possible that they may be pushed down to as low as 4.5% in the very near future.

The market is a double edged sword:  if you are only going to be in the area for 2-4 years. you should probably be renting.  However, if you're a home-buyer looking to live in the area for 5+ years, the odds of seeing a fixed interest rate of 4.5% rate again are pretty slim.  Quite simply, it's a monumental rate drop!


~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Charles County Real Estate Blog
 
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5 Comments on New York Times thinks rates will hit 4.5%!!!

DEC
10
162,476 Points 1 Featured Post

I have just one thing to say about floating in today's market

Pigs get fat, hogs get slaughtered!!!

5:15pm • #1

Hi,

The rates are great right now. I have a buyer who has a VA loan and locked it in this week at 5.5% that is just awesome. I am a Century 21 real estate professional too. Good luck!!

8:46pm • #2
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Maureen - you are soo right!

Jonathan - I had been of the mind when rates changed and gain momentum they woul dbe in the 8's by this time of year. Honestly, I think rates in the 3's are a very real possibility now. With that said - if you can get a fixed rate in the low 5's - lock that bad boy and run to closing and never look back!

 

9:09pm • #3
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Jonathan: Buyers should look at the 5's now, personally I think the rates are terrific.  I personally would not want to risk a good rate now for a dream rate later.

10:07pm • #4
DEC
11
4 Featured Posts

Lewis-  How right you are!  Trying to chase to the bottom is nearly impossible, and odds are you're going to get burned!  However, I do think that this is EXCELLENT motivation to get off your butt and into the market!!!

Dona- I agree, but at the same time, I don't see rates rising significantly between now and spring, so it's kind of a toss up on what to be doing at this moment.

12:31pm • #5

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Southern Maryland Real Estate~ Jonathan Benya

Waldorf, MD

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Century 21 New Millennium

Address: 9405-A Chesapeake St., La Plata, MD, 20646

Office Phone: (301) 609-9000

Cell Phone: (301) 653-8116

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