Interest Rates on Mortgages may drop!
Looking for the ultimate Christmas gift? Look no further. Predictions are that the US Treasury will drop interest rates to 4.5% for a 30 year fixed mortgage. Rates haven't been this low since 1992. Some of the National Building companies like Plute, Ryland stock increased yesterday by as much as 15% with the mention of this rumor. Stay tuned to see if this will turn to fact. My prediction is that it will and for those thinking of buying now will be the time. Building permits in metro Atlanta are down by 75% and builders are not building spec homes forcing inventory numbers to decrease...yes making prices increase in the second quarter of next year.
The housing market is the backbone of the US economy. If the treasury can jumpstart it this economic downturn won't last very long.
Stay tuned....
Looking for the ultimate Christmas gift? Look no further. Predictions are that the US Treasury will drop interest rates to 4.5% for a 30 year fixed mortgage. Rates haven't been this low since 1992. Some of the National Building companies like Plute, Ryland stock increased yesterday by as much as 15% with the mention of this rumor. Stay tuned to see if this will turn to fact. My prediction is that it will and for those thinking of buying now will be the time. Building permits in metro Atlanta are down by 75% and builders are not building spec homes forcing inventory numbers to decrease...yes making prices increase in the second quarter of next year.
The housing market is the backbone of the US economy. If the treasury can jumpstart it this economic downturn won't last very long.
Stay tuned....
0 comments:
Post a Comment