Friday, April 08, 2011

Some Interesting News: This past week interest rates rose, but remain under 5% for 30 year fixed rate loans--still a great opportunity to get in and buy a home! If you wait too long and then they've climbed to levels where you no longer qualify for as much as you would now, you've no-one to blame except that guy staring back at you in the mirror. They will climb, likely later this year, assuming the recovery continues, even at its slow pace. No-one's sure how far they'll climb. Another thing that is beginning to circulate is that the regulatory lending agencies will cut back the loan limit from its present $729 plus number to something in the mid-$600's and that this will probably occur in the fall. If this does come to pass, it likely will add additional upward pressure on rates/qualification for a loan. If your basic rate cuts out at something in the $600's, then you'll have to pay more in interest for anything over that. Again, more cost and tougher road to cover to qualify. Sooooo, don't wait! Do it now! Same situation affects potential sellers. Obviously, you don't need to qualify for a loan to sell, but if your buyers have a more difficult time when they try to buy, it makes sense that selling your property will be that much more difficult. Get it prepped, get it ready and get it on the market! Questions?: Call us: (415) 531-4091 or 380-2133. Stay tuned!


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