LOWEST 30 YEAR FIXED MORTGAGE RATES IN HISTORY !!!!

By
Real Estate Agent with Bergen County, NJ - RE/MAX Real Estate Limited

LOWEST 30 YEAR FIXED MORTGAGE RATES IN HISTORY !!!!


.... yes I said HISTORY !!!


Per the Boston Globe, the average interest on 30 year fixed mortgages dropped this week to just 4.32 % !!!! That apparently equals the lowest rate ever recorded !


And 15 year loans ? Well that rate dropped to 3.75% !!!!!!!!!

... a brand new all-time low !!!!


Since early Spring, investors have been buying high volumes of Treasury Bonds, which in turn has helped to keep rates at or near the lowest rates on record !!!!



Wow !  Did you DIGEST THAT !?!?


LOWEST RATES IN HISTORY !!!!!!!!!!


... time to lock in an unheard of rate and buy that New Home you have been waiting for !!


GREAT TIME TO BUY FOR SO MANY !!!!!!!!!!!!!!!!!!!!!!

 

 

 

 

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Rainmaker
456,450
Stanley Stepak
Howard Hanna - Avon Lake, OH - Avon Lake, OH
Realtor - Avon Lake, Avon, Bay Village, Westlake,

It is just plain incredible.  So where are those buyers.  People you will never get this opportunity again in your lifetime!!!

Oct 02, 2010 03:24 PM #1
Rainer
107,937
Ted J. Macy
Top Agents Atlanta Metro - Milton, GA

I hope that the rates keep falling and before you know it, they will be paying us, YES!

 

Oct 02, 2010 03:25 PM #2
Ambassador
686,448
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

Sheldon.....who would have thought the rates would keep falling!  I love it but one of these days this is going to change. <Subliminal Message....BUY NOW....and, um.....HIRE SHELDON!>

Oct 02, 2010 03:27 PM #3
Rainmaker
558,018
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Sheldon,

This is unbelievable.  Let's hope these kind of rates are still here after the November elections... gordon

Oct 02, 2010 03:28 PM #4
Rainmaker
1,079,379
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Sheldon, according to Case-Shiller Index, prices are back to October 2003 and with interest rates this low, now is a better time to buy than pre-bubble days. Incredible!

Oct 02, 2010 03:33 PM #5
Rainmaker
333,694
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Sheldon, my client got a 4% on VA fixed 30 years at closing yesterday, and they were just thrilled!

Oct 02, 2010 03:35 PM #6
Ambassador
726,987
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

Stan ! Unfortunately too many will be looking back with regreat this time next year !

Ted ! Ha ! I'll be happy if they just stay at this level for a while !!!!

Ann ! Haha ! Love your subliminal message er...coment !!

Gordon ! I hope so ! Along with a little higher consumer confidence !

Sharon ! Great point, and the home prices are a lot lower than back then in many cases so yes, great time RIGHT NOW !

Rita ! Fantastic rate for your VA buyer !!! They must be ecstatic !!!

Oct 02, 2010 04:00 PM #7
Rainmaker
503,040
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Sheldon, even with all that buyers still seem hesitant to take the plunge.  Just what does it take to light a fire under them?

Oct 02, 2010 04:31 PM #8
Rainmaker
262,033
Mara Hawks
First Realty Auburn - Auburn, AL
Inactive-2012 REALTOR - Homes for Sale Auburn Real Estate, AL

It seems that a lot of prospects are also struggling with job steadiness right now, but for those who can dive in, it's open swimming!

Oct 03, 2010 01:54 AM #9
Ambassador
920,196
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Yes they are ridiculously low, IF they can get a loan. For people who would normally refinance...if their value has dropped their might not be enough equity to refinance.

But, for new buyers....Awesomeness.

Oct 03, 2010 01:57 AM #10
Rainmaker
1,086,267
Greg Nino
RE/MAX Compass, formerly RE/MAX WHP - Houston, TX
Houston, Texas

that's amazing to hear again, no matter how many times I hear/read it. WOW is all I can say. I hear if you buy during the Obama administration that you actually get free lunch at Denny's for 12 months. Obama Slam.

Oct 03, 2010 04:02 AM #11
Rainmaker
84,472
Simon Mills
Mills Realty - Toluca Lake, CA

Lower interest rates are great, but with double digit unemployment many are finding it difficult to qualify.

Oct 03, 2010 04:14 AM #12
Ambassador
749,610
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Sheldon... one thing they failed to mention... define history.. how far does history go back?  lol  From what I know, lowest since Fannie has been recording rates since the early 70's.  But yes, they are so low... but with an economy not doing so well, jobs not stable... could you imagine if rates were this low 3 years ago?  wow... and yes, what Missy mentioned.. if they can get a loan. hey, not knocking your post... it's good to get the word out there... I will be writing about the same in a few days, but adding more to educate the borrower, because it's more than just low rate. thanks and happy Sunday and have a good one with your family.

jeff belonger

Oct 03, 2010 06:47 AM #13
Rainmaker
508,975
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

With the LOWEST rates known to man but no BUYERS to purchase what good does it do??

Oct 03, 2010 08:15 AM #14
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

They certainly are low!! What I like about those reports is that they dont cover any real facts. For example, do these rates cover points or origination fees? Plus what are the FICO scores needed for this score?  Fact is that if you have a good enough of a Credit Score, you could actually get to 4.125% without paying an origination fee. Really depends on where you are shopping, your loan amount, and a few other key points. Of course, im sure you know this already but I wanted to add my 2 cents. :-)

@ Robert - They are out there my friend. Perhaps there arent as many buyers as we would like, but homes are still selling. You just need to get to them before your competition does.

Oct 05, 2010 12:57 PM #15
Rainmaker
218,384
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management

Sheldon, thanks for the post. Buyers should be operating at lightening speed to get a property under contract

Oct 06, 2010 07:12 AM #16
Rainmaker
70,882
Caroline Gosselin
Prominent Properties Sotheby's International Realty - Short Hills, NJ

Well, if that doesn't help it to SINK IN with people, not sure what will! I like your social media icons at the bottom of your post... very classy!

Oct 07, 2010 12:21 AM #17
Rainmaker
382,984
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Now if we can only convince our buyers to run with the opportunity instead of waiting for an announcement from on high that the bottom is beneath us!

Oct 07, 2010 12:26 PM #18
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Sheldon Neal

That British Agent Bergen County NJ
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