Why won't you believe me?
Now is really a great time to buy a home and here's why. Interest rates have not been lower since 1963! That's right - 1963, and here's the chart to prove it that I'm not making this stuff up.
Getting into your first home or moving up to another home has never been more affordable. Here's another great example to get you motivated! Follow the orange 30 year fixed rate mortgage downward over the years from 1984's high of 14% to November 2008. Seems pretty good doesn't it?
Reproduced with the permission of Mortgage-X.com
So my 'Magic 8 Ball' and 'Ouija Board' both make predictions based on a recent 'Mortgage Rate Trend Survey' that rates will decline again slightly over the next 90 days. 42% feel that a slight decrease is again possible. But that is a poll and seems to be a gut feeling of those participants. Will rates go up? Will rates go down? I really can't say but I wanted to give you as much historical data to help you get off the fence and make a home buying decision. What will you do if todays' rates are the lowest this year?
Lyn Sims at RE/MAX Suburban (847)230-7324
Lyn's Email: LynSims@remax.net
I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.
Why won't you believe me? Interest rate statistics ©2009 Lyn Sims - RealEstateConsumerInfo.com All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.
Sources: Graphs courtesy of Mortgage-X and used with permission.
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