Mortgage Rates Have Plummeted! After the rate cuts by the Federal Reserve over the last few months, buyers can now lock in a 30-year mortgage rate with a 10% down payment (on a conventional loan) with an interest rate at approximately 5% for 30 years. This is an unprecedented event and offers what might be the opportunity of a lifetime. A buyer today can obtain real estate with affordable monthly payments and a historically low fixed interest rate. While it is January, and early in the year for the traditional "Spring selling season," we would advise anyone thinking of buying or selling real estate to consider this incredible opportunity in the current marketplace.
We have all been looking for hope with the economy and we feel we have been given a belated holiday present, but it is your choice to unwrap it! Please take the time to contact me if you are considering a move; there are many options open to buyers. And if you are considering selling, please contact me to discuss the best way to position your property to take advantage of this historical situation. This moment in time will not last — please take advantage of it.
-Dave Straub @properties 773.255.3180
(@properties January 2009 Newsletter)
