We think so.
Inflation is under control and all indicators show that a recession is in the works. Stockholders will flee the stock market and take refuge in Bonds, which will drive down mortgage rates.
It is a GREAT time to refinance or PURCHASE.
Check out this article for details from the experts:
http://www.mortgage-info-for-free.com/s_customform.asp
If you need to puchase a home or just like looking at them online, go to http://find-a-home-easy.com
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No doubt the financial "crisis" witnessed the past few weeks has created much stress. The wild swings in both the stock market and bond markets has highlighted the high level of uncertainty. The fact is all markets go through cycles and it is the astute investor that sees opportunities when others see disaster. Note that Warren Buffet (perhaps one of the most astute investors in our time) is buying while everyone else is selling. Why? Because he knows value when he sees it. Likewise, if you have good credit and a minimal down payment 2008 & 2009 will prove to be exceptional buying opportunities in real estate. Why? Because mortgage interest rates are still at historically low levels and because sellers haven't been so motivated in years. Because all real estate is local and Columbus, Ohio offers the sixth best housing value in the U.S. according to Forbes 10/10/08 now is a great buying opportunity. Where will mortgage rates go from here? Anybody's guess. The only guarantee is that they will fluctuate. The argument for lower rates can be made based on a slowing economy meaning lower earnings and thus lower demand for credit. The case can be made for higher rates down the road as the economy recovers (as it will,i.e. "cycles")and the enormous infusion of capital by the Fed Rescue re ignites inflation. Regardless where mortgage rates are or where they go there are very compelling arguments to suggest NOW is the very best time to buy real estate in Columbus, OH
Bill Shaw, Loan Account Executive
Market Mortgage Co.
Worthington, OH
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