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 Wente was exactly the realtor I needed. She is professional, experienced and focused on the end goal. She... read moreJill Wente was exactly the realtor I needed. She is professional, experienced and focused on the end goal. She knew exactly what needed to be done at the house to get the most attention when we started showing. Jill offered knowledgeable advice and pinpointed an approach that got my home sold quickly and at a great price! read less