The Interest Rate Roller Coaster
Good Monday Morning!
We certainly had a grogeous and sunny Winter weekend here in the Eugene and Springfield area. It looks like more of the same is on the horizon.
Mortgage interest rates increased slightly last week. This is a continuation of the interest rate roller coaster ride that we have been on for months. My opinion is that rates will decline again in the near future. Even though mortgage interest rates remain very attractive at just over 5% for thirty year fixed financing, the slight increase makes it harder for many to purchase a home. This is a stark reminder that a 1% raise in mortgage interest rates negates a 10% decrease in home values. There will be a time in the not so distant future when the mortgage rates take a turn upwards and don't head back down again. It is for this reason that I continually repeat the fact that we have the opportunity of a lifetime right now with low financing rates and low home prices. If you are on the fence about purchasing a home, I would suggest that you think about this scenario long and hard.
Have An Awesome Week!
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1010 Berntzen, Eugene, Oregon
Description: Cute home in immaculate condition inside & out and sits at the end of a quiet culdesac bordering the park. It features arched doorways, wall-to-wall carpet, wood spiral staircase, lots of windows, .... |
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
