Turn Around Puts Rates at 70 Year Lows

Today it was announced that with the economy still firmly in a recession, the Fed wants to make sure that we do not see a rapid rise in rates that would further hinder any economic recovery. That said, we now see quite a turn around since news of rates rising back at the end of the year. We now have rates that we have not seen in about 70 years according to the report.

With the housing market currently stable and prices back to around 2002 levels, now is a great time to consider buying a home. Yes, the funny types of loans are gone and people now need to show that they can make the payment, but really, isn't that a safety for the home owner in planning properly. Who wants to get a loan that heads them towards foreclosure?

The key to successful loan approval starts with getting with an experienced loan office and getting a pre-approval. Credit scores and the way you have handled your budget and financing is important as it will get you the better rates.  Start the process early to allow time to correct any mistakes on your credit report and you will reap the benefits of low home prices and fantastic rates!