We are beginning 2010 with mortgage rates about one-half of a percent higher then January 2009. The government hold down of long-term mortgage rates is slowly coming to an end. Mortgage rates are expected to end this year at higher levels. It certainly is a great time to purchase a property on LBI and lock in with one of the lowest long-term interest rates ever available!
With rates on an upward trend, even if prices do fall a slight bit more, buying a home this year will most likely generate a lower monthly payment then buying the same property next year! And buyers purchasing in this buyers’ market should be able to find a home of their dreams!
