Palm Springs

admin on May 6, 2011 in Articles

As the economy looms and the world events unfold mortgage rates tend to show their approval or disapproval. Good news for most is that recently the mortgage rates have been coming down. As reported the conforming 30 year fixed mortgage rates started the week at around 4.750%, dropped a little to .250% and have now come back up at 4.500%. In addition to the 30 year mortgage numbers, 15 year fixed mortgage rates dropped as well by the same .250% and are now hovering at 3.750%.

So what does this mean for the home buyer? Lower mortgage rates usually mean a lower payment and that is always good news for the buyer. Especially in the days we are living in with uncertainty and economic change. Rising gas prices, higher home insurance rates due to natural disasters, the fluxuating job market, retirement funds wavering, etc… We need some good news that will equate to savings in our pockets. We need bottom line reductions that will build confidence in all sectors. When we feel confident again, we will spend again. If you want to learn about Palm Springs CA Real Estate you can visit www.palmspringshomes.com. Even though the rates on home loans are welcomed news there is still caution in the marketplace. Unfortunately there doesn’t’ seem to be any sure sign that much will change in the near future.

There are still things that we must do to be able to buy the right home. Look around carefully since there are many home on the market and the inventory is still relatively high. The amount of foreclosures recently is creating more options for the investor or home buyer as well, though receiving investment funds may still be difficult. If you are trying to sell your home make sure you use a good realtor to help you with the process. Not all realtor are the same and you could be making a huge mistake by choosing the wrong one. Make sure they are selling homes before you use them and make sure they have a marketing plan. You don’t want to use a realtor that is just going to list and then sit on it. You need a mover and a shaker and one that will actively market your home. If you’re in the Palm Springs area you can contact www.palmspringshomes.com.

Comments are closed.