30 year fixed

By
Real Estate Agent with Broker, Realror, ABR at Prudential C. Dan Joyner

Just got the message: The treasury Dept. annoounced today they will purchase up to 300 BILLION in long term bonds. The MBS responded immediately with a 100 point upswing. Great news for the 30 year fixed as it ended at 4.5% today.

Consumer savings rates are climbing to levels not seen since the early 80's.

Consumer debt is shrinking dramatically as folks concentrate on paying down their debt.

With interest rates and home prices down, the affordability index for home buying is improving significantly. According to the mortgage co. this came from we should be getting ready to experience the best buyers market ever. Let's hope this is true!!

 

 

Comments (2)

Todd Kevitch
InterContinental Capital Group - Boca Raton, FL
Mortgage Loan Officer - I get deals done!

Good news all around!  Hopefully, the AIG employees will get the idea as well and give something back.

Mar 18, 2009 10:53 AM
Bryan Crabtree
Bryan Crabtree, The Real Estate Expert. - Mount Pleasant, SC

This should be a big help combined with the $8k tax credit.

Mar 18, 2009 12:21 PM