Home Mortgage Interest Rates are Plunging! 

If you have been waiting for that perfect time to buy – It is HERE! Now! Homes prices are way down and now home mortgage interest rates have fallen to the same levels that they were more than 4 years ago during the Home Buying Boom.

Interest Rates: FHA, VA  and FmHA as low as 5.375%; Conventional 5.25%. Both are trending lower and no additional points required beyond the normal 1.0% lender fee. Also, just as important, lenders are lending again instead of putting all that bail-out money into reserves.

Better yet, home prices, depending on the area, have fallen as much as 20% or more from their highs of two years ago. That makes for maximum affordability for YOU. Home prices appear to be stabilizing while Buyer activity has picked up in a noticeable way and many Sellers, while generally not reducing their average asking price any further, are still offering Buyer incentives such as closing cost assistance. That means less money out of your pocket to get into a home.  

NOW is the time to buy a home! No one knows how long the current reduced interest rates will be available. But they are available right now, so what are you waiting for? Santa Claus will not put a new home under your tree – only YOU can do that!