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28 Feb

Mortgage and real estate review

General

Posted by: Brian Mill

It seems that many of my realtor partners have either been away, are away right now or are going away soon.  Looking outside that seems like a great idea and from what I’ve heard the activity out there is still decent.  Most agents I have spoken with are working with buyers however the buyers aren’t in a big rush right now which is no surprise.  Buyers seem to be waiting for the spring market which will obviously bring more listings, but likely higher demand and prices too. 

 

Interest rates are still at record lows and unbelievably seem to be inching lower.  I can now get 2.89% on a 5 year fixed which is unbelievable, but who knows how long we’ll be able to get this.  Urge your clients to get off the fence and take these rates while they can.  Statistics show that fixed rates usually rise in the spring along with demand and there us rarely any warning.  A couple of years ago rates rose almost an entire percent in 1 month (from March 30th to April 30th).  This can happen again and it could be an effective selling tool to make sure your potential buyers know about this. 

 

I have a few options for getting around no downpayment issues for qualified buyers.  Call or email me if you have a situation like this and I’ll be glad to help out. 

 

This weekend I’ll be around town and available to meet with you or your potential clients if needed.  Call or email me anytime.