Fluctuation in interest rates is interesting to watch. On November 28, we were quoted 5.25% for a 30 year fixed mortgage. How good does it get? Then on Monday the rates remained at that level. Yesterday they were up 1/8 of a percent. Still great.
Now is a great time to purchase real estate in Washington County. Prices are down, sellers are motivated, and interest rates just don’t get better. If one waits for consumer confidence to return to the overall economy, one would have waited too long. Once that happens we will see prices rising again. Due to government intervention many foreclosures are being postponed, many loans are being renegotiated to enable sellers to keep homes that might otherwise have come onto the market.
If you are contemplating making the purchase of a St. George, Utah home at this time, please call your favorite lender and request a “Good Faith Estimate” to see just how much it would cost to get into that home. Should you not have a favorite lender, contact me for names of reputable lenders.
