Tuesday, September 29, 2009

Rates Now Lowest of the Year!

Home mortgage interest rates are now at their lowest levels of the year. Most mortgage products are starting in the 4% range. The rate you will qualify for is dependent upon your credit worthiness (FICO Score) and the Loan to Value Ratio of your purchase/refinance. Now just might be the time for you to get the lowest rate ever!

Friday, September 25, 2009

GOOD NEWS: $250K and Below Home Market Stabilizing

The National Association of Realtors now reports that there is only a 2 month inventory of new and used homes in the $250K and below range. This market is therefore stabilizing, and in some areas, already moving quickly.

This price range is historically the market for First-Time Home Buyers (those who have not lived in a property that they own during the last 36 months). Buyers who want to take advantage of the Federal $8,000 tax credit and their Realtors need to remember that this program ends November 30, 2009. The sales transaction must close by that date to qualify.