The News Reports say that this is a great time to buy a house. Home prices in NC, for the most part, are stabilizing at really low prices… and mortgage rates keep getting lower! How low with mortgage rates go? No one really knows. My personal opinion is that when Gas Prices hit $4 earlier this year, consumers and small time employers cut jobs. That’s why the May jobs numbers looked so weak. Now that gas is continuing to go lower – we will likely see the August and September jobs numbers pick back up.
GOOD NEWS in the Economy, generally means HIGHER interest rates. So, if the idea of buying a house NOW – when mortgage interest rates for 30 year fixed rate government backed mortgages are hovering at or below 4% sounds like something you might be interested in… then let’s see what kind of house you might be able to buy now! [Read more...]