You’ve probably been hearing speculations in the news about crazy low interest rates which may or may not happen and even if they do get into the “4’s”, those rates will most likely be for new purchases only. What we DO know is what rates are today and they are ridiculously low!!! The lenders who I refer most of my Clients to are quoting interest rates that I’ve never seen during my career and its difficult to say how long they’ll last.
Keep in mind that there may be a resulting refinance boom that you won’t want to get stuck behind and the only way to know when the rates bottom out is when it’s too late!
Our local market conditions here in Boulder County are incredible for first time Buyers (there is a $7,500 tax credit) and if you have considered either moving up or purchasing an investment property, the timing may never be better.