It has been a long winter here in Northern Illinois. Like everyone else, I am ready for Spring! Mortgage rates remain very attractive! Hey, they are under 7%! When I got into this business, I was refinancing people from 13% into 11% rates of interest and they were estatic. AND I purchased my first home at a rate of 12.75% so I think anything under 7% is GREAT! Reality is that someone with a down payment and good credit can get into the low 6's these days.
The phones are ringing more these days and there is an incease in inquiries for pre-qualifications. I think Spring of 2008 will be a great time to buy, especially if you are a first time home buyer! There a lots of houses on the market and sellers that are willing to make sure you are a happy home owner.
Stop listening to the news media, they have everyone scared about falling prices and foreclosures. Each indivdual person needs to evaluate there life and determine if home ownership is right for them. The questions to ask yourself include:
Is my job stable? Do I pay my debts on time? Have a cleaned up any past credit mistakes I made? Do I plan to stay in this area? Am I realistic about what owning a home entails? Do I have any money saved? Can I afford a house?
Call me and we can review the pros and cons of owning a house. Owning a house can be great. I am eagerly waiting for the tulips I planted last Fall to bloom! Please, Spring hurry up! Joan