This the best time to buy a home in this generation
By Keith Furrow,CRS,CSP,CDPE,PMN, IMSD,IRM,CMHS,CMS,IMS
(Keith Furrow and Associates Realty)
Many don't realize that the window of opportunity to buy nearly twice as much home for the dollar is closing. The interest rates being charged for FHA and VA loans are the lowest we have seen in 50 years. The current interest rates have been hovering around 4%. This is a low rate on the type of mortgage used to finance most affordable homes in Florida. This great rate combined by prices that have been reduced to 2003 or 04 prices, creates a net effect of the average borrower being able to have 2X the buying power of just 4 or 5 years ago. When rates go up and if inflation picks up then these super low mortgage payments will end. "If inflation picks up you won't see these mortgage rates again in your lifetime" Brett Arends of The Wall Street Journal Sept 16, 2010 It's time we spread the...
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