Tallahassee Real Estate Blog

I have heard from many buyers at open houses who say they are waiting for mortgage rates to fall lower before buying.  The Wall Street Journal reports today that rates are not likely to go down past their unbelievable low rate right now, in part because many small mortgage lenders have gone out of business resulting in less competition, and large banks who have more business than they can handle with mortgage refinancing see no need to reduce rates further.

Rates are lower than they have been since the 1950s.  The Federal Reserve does not control mortgage rates and has probably gone as far as possible in trying to drive down rates.  We may never see rates this low again in our lifetime.

If you have stable income, and plan to remain in a home for at least 5 years, it's a great time to buy!  Call us at 850.445.2476 for 5 more reasons to buy now!