More House, Same Budget: How Lower Rates Change the Game

How Mortgage Rate Drops Boost Your Buying Power: What You Need to Know

Remember the days when mortgage rates seemed stuck in the stratosphere? Those days might be behind us—at least for now. Mortgage rates have recently dropped to their lowest point in 11 months, creating a golden opportunity for homebuyers. This shift in the financial landscape isn't just a minor blip on the radar; it's a significant change that could put your dream home within reach.

Understanding the Real Impact of Falling Mortgage Rates

When mortgage rates fall, even by what seems like a small percentage, the effects change your finances in surprisingly powerful ways. Think of mortgage rates as the price tag for borrowing money. Just like you'd celebrate a sale at…

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Interest Rates Are Dropping!

Things have definitely slowed down since the tax credit expired.  However, we're hoping sales will pick up again with the lowering interest rates that caught everyone by surprise.

It was predicted that interest rates would rise to around 6% in 2010.  No one was ready for this latest drop, below 5%!  Some are now saying we could see rates as low as 4.5% again!

How Low Can We Go?

We now have a great combination for buyers - prices have backtracked to 2003 values and interest rates are below 5%.  Some say prices have another 20% to fall, but I'm not a gambling person and with these low interest rates right now, I'm not sure I'd want to wait if I were thinking about buying a home in Scottsdale.

What if prices don't fall another 10% or 20%? …

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Lower Interest Rates a Christmas Gift?

Rates are going down again and the timing makes you wonder if this is a holiday gift for weary buyers and sellers.  Will these lower rates kick start the real estate market for 2009?  How long will these rates last?  Will they go even lower?

I have read some great and interesting articles lately regarding the economy and interest rates.  Some feel that lowering interest rates is not enough to get buyers interested.  They feel home prices are still too high and buyers are only buying the best values.

Well, that's pretty much always true.  In a normal market, the best homes in a buyer's price range are the ones that will be purchased.  The overpriced homes will sit until the sellers start reducing.

But our inventory is still very lopsided compared…

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Mortgage Rates Lowest Since 2004

I just read an article by Inman news explaining how the mortgage interest rates fell this week to lows we haven't seen since 2004.  That's great news for buyers that are indecisive about buying now or waiting until later.  With the recent special Fed rate cut buyers may think it's best to hold out for even lower rates.  That could be a risky gamble.  I'll explain why.

Although I am starting to get more buyers than I can handle, they are passing by decent properties and insisting on viewing everything on the market in their price range.  I can't blame them, although I saw a few homes I'd purchase in a minute if I were looking.  But today's buyers think there's something better out there or they're waiting for better rates.

If interest rates keep…

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