What does it mean that rates are approaching historic lows?

By
Real Estate Agent with Keller Williams Realty

What happens when mortgage rates drop?  Lots of good things:

•     ALL homes become more affordable - Those who couldn't afford to buy can finally take the first step.  Those who wanted to move-up can finally afford to buy their dream home.  Investors can take advantage of bargain prices to lock in solid cash flow.

•     Builders can build more homes, and employ lots of folks, buy supplies, make payrolls.

•     People stuck in a high interest mortgage can refinance at a reasonable rate.  (Now, we don't originate or participate in any mortgage loans, but we know several quality lenders with high integrity who can help you find the right loan for your situation.)  To see if refinancing might help you, go to our Refinance Calculator.

•     Blighted neighborhoods spring back to life, as the glut of lender-owned properties decreases and new owners move in.

•    Homes that were hard to sell become more attractive.

To see if this is a good time for you to make a move, contact your local REALTOR®.  ALL Real Estate is Local!  Find a REALTOR who knows the local market well and who will take the time to counsel you about your options.  If you don't have a REALTOR, ask us to refer you to one of our colleagues who fits that description in your market.  Contact us.

Comments (1)

David Zablatsky
Avant Realty Group - Needham, MA
Real Estate - Needham, MA

Thank you for your posting!

 

-David

Oct 07, 2009 02:57 AM