Monday, November 22, 2010

 

Dyersburg Historic Low Mortgage Interest Rates Will Soon Be Gone

Normally I don't talk much about interest rates but when I got an e-mail from Roger Bell this morning it made me think about where rates are headed!


Conventional 30-year 4.375%
Conventional 15-year 3.75%
FHA 30-year 4.25%
VA 30-year 4.375%
Rural Development 30-year 4.5%


Take a good look at these rates because these will soon be headed back up. The Federal Reserve says our economy is growing too slowly so they have decided to spur inflation. Every time we have inflation interest rates go up. I will never forget the inflation that hit in the 70's when Jimmy Carter was president. Mortgage rates almost hit 20%. I don't believe that will happen this time but I do believe it will be several years(if at all) that we see rates below 7 or 8% again.

If you have been sitting on the fence waiting to buy, you better jump now or remain on that fence for a long time to come. Now is by far the best time to purchase Dyersburg real estate and lock in these low rates. Home prices are down, interest rates are down and now you need to jump down to take advantage of the current market.

Call me now to start the home buying process! Mike Frazier 731-589-7841

Update: 12/2/10 Rate sheet
Conventional 30-year 4.75%
Conventional 15-year 4.0%
FHA 30-year 4.625%
VA 30-year 4.625%
Rural Development 30-year 4.75%

Update December 13th, 2010

Conventional 30-year 4.875%
Conventional 15-year 4.25%
FHA 30-year 4.75%
VA 30-year 4.75%
Rural Development 30-year 4.875%

Update December 29th, 2010

Conventional 30-year 5.0%
Conventional 15-year 4.25%
FHA 30-year 4.75%
VA 30-year 4.875%
Rural Development 30-year 5.0%

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