If you locked in two weeks ago, it could have cost you thousands of dollars. Rates went way up at the beginning of June, and over the last five days, they’ve come way down.
You can’t predict where interest rates are going, but you can lock in when they’re low. And, right now they’re low. In April and May, they were also low. We had a little blip in June, but generally speaking, 2009 has been an awesome year for low interest rates. Historically speaking, there hasn’t been anything like it.
If you have job security and you’ve been thinking about moving, you’ll find great opportunities in this market. I can remember back in 2004, when friends of mine, just starting their families, were finding the areas where they grew up had become prohibitively expensive. Now, clients and friends are finding beautiful homes in Inverness, Barrington, and Palatine affordable again. And, with a decent downpayment and a good job, the financing couldn’t be better.
To get more detailed information on local rates, click on the Zillow widget in the right margin, below.
