This was the wonderful headline a week ago in the Wall Street Journal. Currently, rates are hovering between 5%-5.125% for borrowers with 20% down/equity and good credit scores for a 30-year fixed rate mortgage. What does this mean for the consumer? It means that not only are we in one of the best buyer's market in history now we also have rates that are historically low. It is time for people to get off of the fence and start taking advantage of the deals that are currently available. Once the media figures out that Reno and Sparks are at or near the bottom for pricing and starts responsibly reporting facts instead of fear there will be a run on the best deals available. It is estimated that there is currently 7 trillion dollars not invested; with this pent up demand it is only a matter of time before momentum takes action. Don't be the one caught on the sideline saying I could have been one of those people that made a ton of money on real estate in 2009 but I was waiting to time the bottom!
Jason Norris, MBA, CMPS, President MFG Mortgage Services, LLC 1.775.322.0496
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