Wednesday, December 10, 2008

MORTGAGE RATES SLIDE AGAIN!


MORTGAGE RATES STILL FALLING

In an effort to boost the economy and consumer confidence, many lenders have once again dropped interest rates. What does this mean. Well, I am looking at one rate that is 4.9% on a 5 yr fixed. Last month we were seeing rates around 5.9% which would be a difference of approx at least $50.00/mth in savings and over approx $4500.00 in interest savings on a 5 yr term for every 100,000 in mortgage dollars. Think of what you can do with that savings. Or if you were holding off, waiting to see what the markets were going to do, you are in luck. Prices are down, inventory remains high, and now interest rates are LOW. What better time to buy than in a buyers market with low interest rates!

1 comment:

Mberenis said...

Have you heard the GREAT news? There has been a major change in the real estate industry due to the bailout and there is beach condo's, islands, and beach property literally for the taking. Most people would be surprised what they find after only 10 minutes of research. Many of them now own beach property and islands for under $10,000.00 USD.

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