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!