With the help and purchasing participation of both the US Treasury and the Federal Reserve, we have seen interest rates on mortgages plummet over the past 45 days. The rational for these government agencies reallocating money for the purchase of mortgage securities to reduce interest rates is plentiful, but we will discuss the two major points of interest, and how they positively impact you.
first off, we have seen a wave of refinancing begin, as qualified borrowers look to reduce their payment, their loan term, or both via lower interest rate structures. Additionally, we have seen borrowers utilize these lower rates to take cash out on the equity on their homes, or even combine existing first and second mortgages into one niw, lower payment loan. There are a lot of alternatives available. Is yo need help or have questions, your Mortgage Access Financial Consultant can help you dessect the options.
But a second, and perhaps larger bi-product that is beginning to become a major talking point (and may be the focus) of 2009 is the purchase market and the opportunity to buy. There truly has never, in our lifetime, been a better opportunity to buy: buy a starter home, trade to a move-up, get that second home you have always wanted, or that investment property as a tangible investment.
The equation is fairly simple: home prices are the lowest they have been in years, the supplu and assortment to choose from gives everyone the opportunity to truly find a home they love and have dreanes about, and financing rates are not among the lowest in history..... they ARE the lowest in history.
Main point to this: NOW IS THE TIME TO BUY!!!! There has never been a better time to buy or invest. East Tennessee Realty Group can help you every step of the way!
Ask us how! We can help! 865-774-7764 firstname.lastname@example.org
Resource: Market Monitor Jan. 9,2009 issue