Hey, Chicken Little!! The sky isn't falling, but mortgage rates sure have!!

Freddie Mac released the news that mortgage rates are the lowest since they started tracking it back in 1970. This week has seen rates that are 4.78% and holding. The Los Angeles Business Journal published an article relating information from Freddie Mac via The Washington Business Journal.

For home buyers (who typically move every 5-7 years), this means that on a home priced at $200,000, this rate will drop their payment by $212 a month, or a savings of $2,500 a year! That's a good chunk of change- when you figure that over 5 years,it's over $10,000!!

If you are thinking about buying a home this year- with the $8,000 Tax Credit, the mortgage rates at a 39-year low, high inventory of homes for sale, there's never been a better time! So, what are you waiting for? Let's go find that new home for you. Don't just be wishing you had bought that new home- DO IT NOW! ... be proactive, save yourself a whole lot of money & start living your homeowner dreams NOW.