Posted by: union03g | March 22, 2010

“Interest rates move up in elevators, housing moves up the staircase.”

Chris from Luett Mortage group has another nice post that breaks down (very clearly) how mortgage rates are affected by inflation, bond prices, the Fed and what we can expect in the near term. My opinion is that finding value in real estate is very easy right now and we need to remind ourselves that these historically low interest rates, tax incentives and cases of seller distress are all vanishing variables. If you’re a qualified buyer you still have a ton of power but the clock is ticking.  Full Article Here

Below is a chart of historical interest rates back to 1963.

National Average Contract Mortgage Rate

If you can’t feel good about buying property now, you never will.

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