HOW LOW CAN THEY GO?
Two really recent interest rate quotes, from local and really reputable lenders I use are very low. 3.375%, no points, and 3.125% no points. This is getting to the point that interest is almost a non factor with a loan. FICO scores, not so much. A very recent article says scores on closed loans averaged 750 points? Huh?
That means a LOT of decent buyers got shut out. Average rejected score…704 points.
Lower rates combined with seemingly unreasonably high FICO scores means lower sales.
If I can provide more information about Tucson AZ real estate and surrounding areas, the housing market, or otherwise assist you, friends or family in a home search, please contact me by phone or text at (520) 850-5995, call me toll free at (800) 557-9798 or email me at TucsonAgent@msn.com
Website is www.TucsonBuyersAgent.com
Jon Quist is Tucson’s Buyers Only Agent
Serving Tucson, Oro Valley, Marana, Vail, Sahuarita, Saddlebrooke, La Reserve, The Catalina Foothills, The Sabino Canyon area, and Eastern Pima County