I guess we knew this would happen but maybe not quite this quickly. Looks like rates are now around 5.25 %. I few years ago we would have thought this was a wonderful interest rate and it still is. Now is a great time to buy. Check and see what you need to do to qualify for a loan and use the first time home owner tax credit to give you a boost!

Interest rates still seem to be hovering around 5%. I don’t think it is likely they will go much lower. But, who am I to say! I have been hearing it is the people who purchased a loan between 2004 through 2008 that should be refinancing. They are more likely to get quick recapture costs. These low interest rates won’t last forever. I think they say if the current interest rate is one percent or more lower than your interest it is probably worth the cost to refinance.

It looks like an interest rate for a 30 yr conventional loan is aroung 5.75% right now.  What a great rate and a great time to purchase a home.  Today was not a good day on the stock market but it is Monday!!  I heard lately that when the market settles down inflation will go up and interest rates could increase by 2 percent in the next couple years.  We will see!