Tuesday, May 25, 2010

How Low Can They Go?

I just saw an article about how mortgage rates are as low as they have been in my lifetime - currently as low as 4.87 percent for a 30-year fixed rate mortgage (according to Bankrate.com).

If you're ready to buy a house now or in the near future, this might be one of the best times to buy because house prices are nearly as low as the mortgage rates! The worry is always that the prices and rates won't stay low for long. I don't have a crystal ball, but it seems like housing prices are starting to trend upward, and mortgage rates probably will soon as well.

Lawrence Yun, who is the chief economist at the National Association of Realtors, doesn't think it will last long. "I think they won't last much longer than a month or two at best," he said recently. "I can see them going up to 5.5 percent by the end of June, if not sooner."

There are a lot of good, affordable houses on the market right now; and I'd love the opportunity to work with you to find the right one for your needs. Contact me at 320-894-7528 or at noah@farmlandman.com today and we can discuss your situation and start sorting through the housing inventory. Now is a great time to buy!

Monday, May 3, 2010

Spring Planting Progress

This spring has gone remarkably well for platning. I saw a communication from the beet plant the other day saying that 2010 planting is complete, which is much better than last year at this time.

I checked the USDA Agricultural Statistics Service data, and it appears that most crops are ahead of schedule as compared to last year. As of May 3, it said that 97 percent of Minnesota's sugar beet acres were planted; while just 19 percent were planted last year at this time. The five year average for sugar beets is about 44 percent through April.

Likewise, about 87 percent of corn acres were planted; as compared to only 56 percent last year and 41 percent for the five year average. Nine percent of corn is already emerged, compared to 1 percent each of the last five years.

Only about 19 percent of soybeans are planted, but that is also way ahead of schedule in comparison to the last five years. In contrast, nearly 100 percent of oats, barley, and spring wheat are already planted.

If the weather continues to cooperate, this should be a good crop year.