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Real Estate News – Mortgage Rates Drop
Real Estate News Overview:
In this weeks edition of Real Estate News the top headline that all readers need to know is that the 30 year Mortgage Rate has dropped to record low; 4.85%. According to a survey from Freddie Mac this rate is the lowest it’s been since 1971. Also, the 15 year rated dropped to 4.58%.
So what lead to this new drop? Due to the Fed’s decision to buy back $300 Billion of long term government bonds and $750 Billion in mortgage backed securities.
These new low rates are really prompting buyers to reenter the market. These low rates combined with staggering numbers of foreclosures means….opportunity for homeowners.
Real Estate Investor Coach Response:
Ok, so people looking to refinance or get a new home can obviously benefit from this, but what about investors? Well, as for me, my portfolio of foreclosure investment properties has continued to increase every month. We are negotiating short sales like crazy and getting huge discounts and making huge profits. Are you?
The fact that mortgage rates have dropped only means that now is a great time to buy and lock in if you are looking for a new home for you and your family. If however you are looking for investment properties, don’t be tempted to start getting loans on properties unless you are prepared to accept the risk associated with the personal guarantee. This is how many real estate investors got burned in the first place, by putting properties on their credit and waiting for appreciation. Remember, if the property appreciates it is only a bonus. Save your credit for when you really need it, and until then, there are so many other ways to make money investing in real estate without needing your money or credit. Stick to those and you’ll sleep better at night!
Tell me what you thought about this article by posting your comments below!
To Your Real Estate Investing Success,
Brian Evans
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