Well, another ride on the economic rollercoaster is leading to lower mortgage rates once again. But for how long is anyone's guess. One might say that it is a result of slow growth or slower than expected growth, the continued employment concerns, the end of QE2 or the lack of home sales, just to name a few. It could be one of those reasons or all of the above. As I said, anyone's guess!
So, as I have indicated in the past, home prices are still very low and interest rates are back down in the 4.5% to 4.75% for a thirty year fixed rate loan and good credit! So, if you are looking to purchase, stop thinking about it and DO IT! The market analysis will always tell you that you will rarely buy at the lowest and rarely sell at the absolute highest prices in the stock market. Why should you expect it to be different in the houseing market? I believe that it is about as good as it gets!
There is another side to this that comes to mind. When the bonds are rallying to cause rates to go lower, equities are usually headed south too. Well, that brings us to another round of volatilty in the market and the need for additional intestinal fortitude! Had enough market volatilty?? Read the executive report found here.
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