May 5th, 2011 4:17 PM by Kemmer Daniel Matteson
While Gold, Oil and Silver all hit new record highs this last month. The stock market is wavering and starting to teeter again. Unemployment remains high and the economy is not really doing all that much better.
Quietly the mortgage rates are dropping. As a matter of fact we just hit the year low and have broken new resistance. Click here for a graph. I believe that the affordability index is at new records as well. In the midst of the media's gloom and doom there are bright spots.
If you are a renter you can qualify for a purchase for about what you are paying for rent. If you are a homeowner lock into a low fixed rate now if you are planning to stay.
There are new programs out there for up to 125% Loan to value for refinancing on a Fannie Mae loan. As well as loans up to 3 million with 40 year amortizations and interest only payments. Housing has never been so affordable in many years.
Real Estate is and always be a great and safe long term investment.
Visit our website HERE for Real time quotes on rate and terms.