Great Rates, Great Prices: What More Can You Ask For?

Many of you heard that mortgage rates were good last week.  Many of you also heard that rates may go even lower.  The fact is that last week rates were great and today the trend has followed through on this chilly Monday morning.  Rates actually held a trend around or below 5.5% for the better part of 7 working days.  In the recent market a steady trend of anything is unexpected.  The announcement of the Treasury willing to buy additional mortgage backed securities was the cause of our low trends.  The short term future of rates is still something that cannot nor should be forecasted.  The market doesn't allow us to follow traditional trends and driving indicators of where rates will go.  With that said, it is better to take advantage of an opportunity of already low rates when you can rather than waiting for something that may never happen.

Great prices, yes, I say great prices.  As I've said numerous times, we're fortunate to live in the Willamette Valley where we haven't seen too drastic of a drop in home values.  However, there is enough inventory currently on the market to offer an amazing opportunity for anyone thinking about buying a home (regardless of whether you are a first time home buyer or a seasoned veteran).

The key to success in this market is understanding that now is the time to take advantage of each of these opportunities at hand.  If you wait for the rates to drop even lower or the prices to fall even more, you're likely to miss the boat.

If you need help finding the starting point call or email conrad(at)conradventi.com today.