Real Estate Blog
Friday, December 05 2008
National Association of Realtors® President Charles McMillan comments, “NAR estimates that lowering the mortgage interest rate by 1 to 2 percentage points can result in up to an additional 800,000 home sales. Housing has always led our economy out of downturns and lower interest rates are key to bringing home buyers back to the market. We strongly encourage the Treasury to move quickly with its plan to lower interest rates to encourage current buyers to act rather than continue to wait.”
Even with foreclosures driving the prices of homes down across the country, people have been on the fence about buying. Please contact your mortgage professional and accountant to see if this is a good time to buy for you or a good time to refinance your current mortgage.