Last week after the FED announced they would purchase $600 Billion of Mortgage-Backed securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae, the mortgage interest rates dropped.
The move by the FED was designed to help increase the availability of credit while lowering the interest rate. And it certainly has lowered the interest rate. Not just by a fraction but by 1% from 6.5% to 5.5%.
Unlike a retail store that advertises a price for a certain period of time, interest rates are unpredictable and move on a daily basis. And to make matters worse, there is no one out there that can accurately predict how long the mortgage interest rates will stay at the low to middle five-percent range.
Thus if you are waiting for a good time to buy a Spring Texas home, the time is now. Get out there and purchase:
Jill is an outstanding realtor! She helped me both sell a home and buy a home. She is thorough,... read moreJill is an outstanding realtor! She helped me both sell a home and buy a home. She is thorough, professional and easy to work with. She made the whole process smooth and easy to understand. I have moved several times and Jill is hands down the best realtor I have work with. read less