The tough decisions Greece has had to make to rescue it self from decades of overspending have begun to produce some economic optimism. Couple that with NAR’s (National Association of Realtors) better-than-expected housing numbers on pending sales and we may be looking at the end of declining interest rates!
As we have said all along, it can’t last forever! Get your buyers in the door NOW and lock those loans for them. Our already anemic housing recovery may have just gotten the rug yanked out from under it. Higher Rates will NOT help, but have always been considered inevitable.
The Federal Reserve can’t artificially depress interest rates forever. Every action has an equal and opposite reaction. That’s a law, by the way, not an idea.
The good news is that YOU still have the ability to grab some bargains on homes with a Low Interest Rate if you move quickly. Consider this an early warning to the pending spike. Don’t miss the boat and think interest rates will stay low forever!
Remember, we are at the bottom, the trough of the wave if you will. Millionaires are made in the trough’s of rough seas, but realize their fortunes at the crest of the wave.
ACTION PLAN
- Do some research to confirm what is happening.
- Educate your self on the process and YOUR Real Estate Market (remember, Real Estate Markets are Local, NOT National)
- Work harder to find the right property!
- Get pre-qualified at Victory Funding who will match you to the Right Mortgage Product! Call Now at 899-7700!
