Would you like to hear some great holiday news? The current rate for a 30 year fixed in Spokane, WA is at 4.75%. Wow, what a great time to be a buyer! This news is not only beneficial for buyers but also wonderful for those thinking of refinancing their current home.
Our current market has put us in a place we haven’t seen for years. Along with the low interest rates, we also have a lot of choices available in the home market, lowering home prices and sellers offering many great incentives to help sell their homes. It has been a long time since we have had all of these conditions working to the benefit of the buyer.
While our economy is currently in turmoil, we need to open our eyes to the benefits it has created. History has shown us that it is only temporary. Consider the following quote:
“Some people say they want to wait for a clearer view of the future. But when the future is again clear, the present bargains will have vanished. In fact, does anyone think that today’s prices will prevail once full confidence has been restored?”
Who spoke these wise words? Those comments were made by Dean Witter in May of 1932 – only a few weeks before the end of the worst bear market in history.
Have faith as we have been here before – and we survived and prospered!
Sincerely,
Doug Burke
e-PRO Certified REALTOR®
Windermere Real Estate/Valley, Inc.
CELL: (509) 220-8358
FAX: (509) 928-4250
MailTo:Doug@Doug-Burke.com
www.Doug-Burke.com
www.SpokanesHomeSource.com
Spokane Real Estate News Blog
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Doug, hang on to your hat! I logged into my favorite wholesale lender this morning and we're sitting at 4.5% with NO Origination Fee!!!! Wow.
If you have clients that have recently locked a rate, they need to be screeming for a float down. I've got people that bought homes just a couple of months ago that are already refinance candidates.
Stay Warm,
Mike Mullin