Banks are asking for more money, the new administration tells Congress that another $350 billion may not be enough, and all the while consumer confidence is low.
There is a silver lining though and that is it’s the continuing decline of long-term interest rates and the wonderful effect it’s having on long-term ownership costs.
The benchmark 30-year fixed-rate loan dropped below the 5 percent range recently, making it more affordable than ever to buy or refinance a home.
This is a particularly welcome development because there are literally millions of home loans on the books today with interest rates in the 6 percent range and higher. And borrowers are lining up to refinance in numbers not seen for quite a while.
Have you seen an increase in orders?
Continuing Ed for Title Agents
Free Classified Ads
No comments:
Post a Comment