Historic Partners USA

On Thursday of this week (1/8/09) Prosperity Mortgage had an interest rate of 4.25% for a 30 year fixed conventional loan with 3 points (the points can be paid by the seller). That is truly incredible. Alot of home owners are refinancing, because of the low rates, and banks have limited funds available to lend, so the word on the street is borrow now (buy now) rather than later. Many analysts say that home values are near 2003 prices, which is great if you are buying, but may make refinancing a challenge. The key to taking advantage of the great buying opportunities in this market is having two things – good credit and a good downpayment. With those two things, the opportunities abound.

Now, if you have been considering a purchase, but felt the house you wanted would require monthly payments that are just out of your range, well… @ 4.25% that house may have just gotten cheaper. Something to think about…