If you haven’t noticed recently interest rates have dropped to their lowest point in decades.
Local lenders all around Grantham NH have rates as low as 4.375% for a 30 year fixed rate loan. If you want a 5 year adjustable then how does 3.5% sound?
When I bought my first house in New London NH I was thrilled to have an interest rate of 7.99% I thought that was the best I would ever get. Back in November I purchases home number 4. Just 9 months ago I was happy to see 4.75% I’m still happy with this rate and who would have thought that rates would continue to drop?
So many “experts” were saying how rates would jump as high as 8% by the fall of 2010. I had serious reservations about that but I too thought rates would start to head higher. This down trend is perfect timing for the housing market and is really the true stimulus, an unforced natural effect of the “market place”. So unlike government interference and programs that cost so much money.
Buyers and sellers should take notice, do some math and figure out just how much money they can save.