Best Interest Rates for FHA, Conventional, and VA

WOW! If there was ever anything that I thought could help the buyers market pick up, I would think it would be super low interest rates. The bond market staggers after stocks throw a “straight left” followed by a “right cross”, and then bonds unleash a “body blow” that sets up a “right hook, left hand upper cut” that sends stocks to the mat for an 8 count. Take that analogy, wash/rinse/repeat over a months time and you see why interest rates go up for two days and then for the next 5-6 business days they drop, followed by the rinse, lather, and repeat method, and you get interest rates on a 30 year fixed loan as low as 5% today.
If you are waiting for the right time to buy and you truly are ready, this is the time. You can’t couple the buying while it’s low and while the interest rates are low timing better than now. Mortgage guru’s expect that we’ll see a small spike in rates on the short term followed by a stalactite drop deep into the 4%range before rates eventually shoot up into the 8’s or higher. Remember, this is the mortgage business, and everything is a hypothesis or theoretical in nature when it comes to forecasting.
It is just a great of a buyer’s market now than it was a couple years ago. There are less seller’s than before, but there are far less buyers too. As a local mortgage consultant with numerous referring Realtor alliances, I hear daily how many listings my Realtor alliances have compared to the number of active buyers. There is no shortage of Realtors with 4-5 listings with sellers that continue to drop their listing price because they can’t find buyers. This means that the sellers are aggressively ready to drop their price to get moved on to what ever it is they have planned after they sell their home. Go get that dream home before someone else does, or you will look back in 3-5 years and wish you had.