I have been reading news articles lately and wonder about the whole mortgage market in general. We know that the sub prime market is in trouble. We know that Bush and Congress have an economical stimulus plan that could help the mortgage and real estate market. The feds have slashed rates again this week with the possibility of another rate cut next week.
I read through all this and "WOW" What an industry to be in.
Mortgage guidelines are changing on a daily basis. The reason why I bring this up is that in order to stay on top of the mortgage business it takes a lot of time, reading and emails to stay updated.
The reason for my blogg today is to say that even though the real estate industry is having some trouble, it is still a great time to buy a home, or refinance. Interest rates have never been this good. It's true that lenders have changed their guidelines, some on a daily basis and made it harder to obtain financing. But still it is a great time to buy a home. I cannot predict where rates will go from here, up or down. But for now, there is a lot of money saving loan options still available on home financing.
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