Tuesday, January 18, 2011

2011 Interest Rate Forecast

My best mortgage broker says that the 4.2 percent 30 year fixed mortgage rates that some borrowers were lucky enough to snag in 2010 are now history.  I believe that.

The good news is mortgage rates will still be historically low, in the 5.5% rates for perhaps the remainder of 2011. 

The bad news is 2011 will be another volatile year for real estate sales with homeowners houses not selling, do to lack of "able" and willing home buyers to make purchase. 
The lack of these buyers job security, confidence in the economy, the ability to produce a good credit score, and the down payment requirement to purchase from a lender, will keep buyers from leading this economy out of the housing recession.

Is now a good time to buy?  You bet!  If you have job security and funds for down payments.  Call me!

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