Mortgage Rates Drop
Finally, some good news for the mortgage industry! The Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS). This has caused interest rates on 30-year fixed rates to drop below 6.00%.
If you have been on the fence about buying or refinancing a home, now is the time to act.
Is This A Recipe for Your Success?
- Rates are very low and home prices in many areas are stable, at and around 2003 levels.
- Reports from earlier this month showed an increase in pending sales in Gloucester County, NJ.
- Energy prices have dropped.
- First-Time Home Buyers will receive a $7500 tax credit if they purchase a home right now.
- 100% Financing available on many homes.
- FHA minimum downpayments are going up .5% come January 1st
I think you'd be hard pressed to find a better time to buy. Let me offer you some great tips on how to reduce your closing costs and get into a home for the lowest amount possible.
IF REFINANCING <<< >>> Don't wait until next week. Rates can be (and have been lately) very volatile and this opportunity might not survive even a few days.
Whether you are looking to buy or refinance, call me today. I'm here to help. ~ Steve Kappre
Steve Kappre - Treasury Mortgage - 856-419-3561 - www.stevekappre.com
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