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Are Interest Rates really 4.25% for a fixed rate 30 year loan?

By Scott Baker

Real Estate Agent with www.eHomeReports.com Coldwell Banker Realty

November 15, 2010 12:26 PM

Are Interest Rates really 4.25% for a fixed rate 30 year loan?

How can that be? How can they, anyone, afford to loan money at an interest rate of 4.25% for a fixed 30 year loan? That sounds insane, and yet, that is today's rate.

If you are a buyer, if you are not a buyer become one, and look around at the potential deals in areas you always thought you would like to live but wouldn't be able to afford. You know the place, you drive through every know and then and think how nice it would be to live there. Guess what? You just might be able to make that dream a reality today. Prices of the homes have decreased, the money to buy them is SO cheap.

Just do this. Call your Realtor, tell them you are just curious. You don't want them to spend an enormous amount of time on it. Have them send over to you the homes that are currently on the market in your dream subdivision. If you want them to send you over just those within a price range, no problem, they will take care of it. With Interest Rates at 4.25% and the prices of homes....you never know what you can get....I'll bet you are surprised.

Questions, Comments, Derogatory remarks, call Scott Baker at 513-403-5323. Visit www.eHomeReports.com

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Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

With rates this low this is what buyers have been saving, waiting for.

Nov 15, 2010 12:32 PM

Joan Whitebook

BHG The Masiello Group - Nashua, NH

Consumer Focused Real Estate Services

I think a lot of buyers are missing a great opportunity. I hope now that the election and all the uncertainty is over, the buyers will be comfortable moving forward.

Nov 15, 2010 02:46 PM

Scott Baker

www.eHomeReports.com Coldwell Banker Realty - Liberty Township, OH

Realtor Homes for Sale Cincinnati/Dayton Ohio

Yes Andrew, you make moeny when you buy, not when you sell. This is the low they have been waiting for.

Yes they are Joan. Many will wish they had at least taken a look at it.

Nov 15, 2010 10:06 PM

Rick Cignoli

Norcom Mortgage NMLS# 71655 Equal Housing Lender - Avon, CT

Sr. Mortgage Loan Officer

Scott ... Now IS the time to buy. Rates are not going to stay this low for long.

Nov 16, 2010 12:08 AM

Al & Peggy Cunningham, Brokers

RE/MAX West Realty Inc., Brokerage - Brampton, ON

Our Family Wants To Help Your Family!

Those are better than attractive rates Scott and your advice to Buyers is excellent! They should call YOU!

Nov 16, 2010 12:26 PM

Renée Donohue~Home Photography

Savvy Home Pix - Allegan, MI

Western Michigan Real Estate Photographer

I had an FHA buyer get that wonderful 4.25% last spring on a 3000 square foot pool home here. Their payments were only $1200! This is on a home that would have gone for a half a million "back in the day"!

Nov 16, 2010 02:15 PM

Yes Rick, As is the case with stocks when looking back, the question is asked of ourselves, "Why didn't I..."

Thank you Al and Peggy. They should definitely call their Realtor and just see what might work for them.

Isn't that something Renee. And soon we will be looking at this time period as What an Opportunity.

Nov 17, 2010 12:04 AM

Michelle Gibson

Hansen Real Estate Group Inc. - Wellington, FL

REALTOR

Scott - 4.25% is an incredible rate especially for a fixed rate.

Nov 17, 2010 12:45 AM

Rebecca Gaujot, Realtor®

Lewisburg, WV

Lewisburg WV, the go to agent for all real estate

Scott, a great rate and we are at this time refinancing at this rate.

Nov 17, 2010 01:58 AM

Yes it is Michelle.

You are doing what virtually everyone should be doing Rebecca. Refinancing is what is keeping many finance and closing companies afloat. Good for you.

Nov 17, 2010 09:47 AM

Are Interest Rates really 4.25% for a fixed rate 30 year loan?

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