As I mention in a earlier post Don't wait to buy or sell. With the extension of the Homebuyer Tax credit to people looking to upgrade or downgrade if they have lived in their property for over 5 years the time is now and you better get a move on it. Rates are on the rise according to many sources as you can see below.
Low Mortgage Rates Could Be Ending
Home loan rates below 5 percent are about to disappear, predicted Denis Salamone, COO of Hudson City Bancorp, the nation’s largest thrift.
"I don't think the market will stay this low for many more months," Salamone said Tuesday.
Salamone said that despite the Federal Reserve’s decision to keep short-term rates low, if the Fed buys fewer mortgage-backed securities, loan rates will rise.
It will take another 12 to 24 months to sell off excess inventory and until that happens, housing prices may continue to fall, Salamone said.
Source: Reuters News (11/17/2009)
Call me today @ 915-751-1500 or 1800-811-5917
Visit me @ www.BrianBurds.com