What a deal.....3% mortgages?

Today the Dow Jones average was down 500 points at one point in the day. Why is this?

Because "the market" was disappointed that the Fed did not do even more to boost the US economy. But what about us in the real estate business? Well, house are cheap, inventories are dropping and average days on the market is dropping and 30 year fixed rate mortgages closing on 3% can be purchased with 3.5% down.

Interest rate futures on the 30 year US Treasury bond increased from last Friday at $138 to $146 today! Interest rates moves are the reciprocal of prices meaning that long term interest rates are lower than ever! Step up to bat!