It's not just an illusion....Rates really ARE low!!!!

By
Mortgage and Lending with Bank of Oregon a division of Willamette Valley Bank

It's not an illusion folks, we really ARE seeing historically low rates!  Here's a historical breakdown on Mortgage Interest Rates since 1985.  Is now a great time to buy a house?  I say...YES! 

Charts courtesy of http://www.freddiemac.com/pmms/pmms30.htm

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Rainmaker
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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon Karen. Really good information. wish I could find a second home to buy.

Aug 11, 2011 08:07 AM #1
Rainer
144,389
Victor Zuniga
Berkshire Hathaway Home Services California Properties - San Diego, CA

Even with this chart people still don't believe agents. People don't realize what an opportunistic time this is to buy a home.

Aug 11, 2011 08:13 AM #2
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143,052
Karen Burket
Bank of Oregon a division of Willamette Valley Bank - Medford, OR
Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Hi Sheila!  Surely you have access to a great database of homes!?  ;-)    Thanks always for your visit! 

It amazes me Victor how many folks are "nervous" still to buy.  Good grief...what more are they wanting?  Thanks for your visit and comments.  Mucho appreciated!! 

Aug 11, 2011 09:07 AM #3
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Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Great info, Karen. I remember back before that (I wasn't in real estate then) when interest rates hit 16-17%. This is historical!

Aug 11, 2011 09:07 AM #4
Rainer
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Karen Burket
Bank of Oregon a division of Willamette Valley Bank - Medford, OR
Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Thank you Toni!   The first house I ever bought was in 1986 if memory serves me correctly.  Ex qualified for VA.  We were THRILLED when we got locked in at 9%!   It amazes me when customers ask "so, do you think rates will go any lower?"  SERIOUSLY!?  What's NOT to like about where they are currently at?   As always, all the best to you! 

Aug 11, 2011 09:26 AM #5
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Karen Burket

Valley Mortgage Grou, Conventional, FHA, VA, mortgages
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