After speaking with my mortgage guru Dale Biaggi of Land/Home Financial Services INC. http://www.lhfinancial.com/ can reach him at dale@landhomeca.com
May 27, was the worse day for mortgage rates in a very long time. Fannie Mae pricing increased six times in oneday alone. Fannie Mae 30 year fixed rate jumped from 4.75% to 5.50%. Right now rates are in the range of 5.250% to 5.75%.
Don't get scared it is still a great time to purchase a home. Here are a few reasons why!
* First time homebuyers tax creditof $8,000
* Lowering Housing Prices
* There is a larger numbers of FHA lenders
* There is a lots of REO and Short Sale properties
* Rates are still at low
Take advantage of low rates. As always if you need help with your new home purchase contact S.A.C. Properties at info@s-a-c-properties.com
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