Watching the news everyday can make a normal person go crazy, and a crazy person go insane. With all the depressing news its no wonder the market has not picked up. There is too much doom in gloom in our minds for us to realize the opportunities in our midst. The economy is a worldwide problem and an international tragedy but focusing on some thing we cannot directly control is not only stressful but a waste of time.
There is no reason to sit and gloat about the economy when interest rates are so low. Now is the perfect time to find your dream house. There is a huge sale going on right now are you going to take advantage of it? There has never been a better time to buy for two reasons: the first being that every house has dropped in price, which means that you get it on sale. The second reason is that interest rates are very low right now. You could save tens of thousands of dollars in interest by buying right now.
If you think interest rates are going to stay this low forever think again. Just look back in the 1980’s where the interest rates got as high as 16 percent. While the economic situation today is much different than it was back then we still have to be aware. The interest rates have been far to low for far too long. It’s only a matter of time before the interest rates will have to go up to curb inflation. This opportunity train may not last more than another year so it might be good to see if you can get pre-qualified for a home.
Warren Buffet the famous investor stated “be fearful when others are greedy, and greedy when others are fearful.” If there ever was a time when people were fearful this is it. If you can leverage your money and purchase a house it could be an investment opportunity. If you don’t have the funds don’t overextend yourself other opportunities will come down the road.
The bottom line is that when interest rates are low money is cheap. When interest rates are high money is expensive and not as liquid. The market rates stimulate supply and demand, and create opportunities for those that can see them. If you have never visited with a loan office now is the time to line up. Find out what rate you qualify for and if you can purchase the house of your dreams. If you can purchase a home with these current interest rates you will not regret it.
ERATE is comprised of current mortgage rates loan experts at every level within the company. For more info please visit at (http://www.erate.com/).