Have you seen the nationwide averages for 15-year fixed mortgage rates lately? They’re hanging below the 3.00% line like Kevin Durant hangs out at the beach volleyball pits. The first time they averaged below 3.00%, we all stood there in amazement. Now, ever since May 31, 2012, 15-year fixed mortgage rates haven’t sniffed 3.00% and it doesn’t look like they’ll jump back up any time soon.
If you are anywhere near the thought of buying a house, you should do it right now. Today. Rates are silly low, home prices are silly low, and supply far exceeds demand. There is no better time. And I’m not the only one saying this. Remember John R. Talbott? He wrote “The Coming Crash in the Housing Market” (2003) and “Sell Now! The End of the Housing Bubble” (2006). Well, guess what he’s saying now? Buy, buy, buy! Or refinance, refinance, refinance!
Talbott makes some great points about how current home prices compare to construction and replacement costs and how incomes are currently comparing to rent prices. If you’re on the fence about buying or refinancing, reading the complete article may help you make up your mind.
Then call one of our Home Loan Experts, who can tell you how all this applies to your specific situation. (800) 251-9080