I have another buyer who is insistant on waiting to purchase until the rumored 4.5% interest rate arrives. When rates are already low, home prices are great and the selection of inventory is broad THE LAST THING ANYONE NEEDS is a rumor of a lower interest rate that keeps buyers sitting on the fence and missing what could be a limited time opportunity happening right now. I have several buyers who insisted 6 months ago that they were going to wait for home prices to reduce and because they waited they have found they are no longer eligible for the loan they were depending on.
4.5% Interest rate? Rumor has it that only so many buyers would even qualify... if you are a buyer on the fence make sure you have a good view and are sitting securely, an unexpected wind may attempt to push you off.
Stay in close touch with your lender and know your market so you recognize a great home price and you're qualified when your time is right~! Portland, Oregon is one of the few states holding up well in this crazy market! -Kristie McDonald
Read the article on Paulson Denies Rumored 4.5% Mortgage Interest Rate Plan HERE.
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