Rates, Rates and Rates

WOW, we are hearing a lot about rates the past few days. The FED dropped their interbank rate to 0-.25%. Now I am not exactly sure how or what Mr Bernanke means by giving a range for the Fed Reserve rate but the bond market has reacted and we have finally gotten rate relief for buyers and those looking to refinance.

Are we ready for a refinance boom? Probably not but those with equity and good jobs and credit certainly have an opportunity right now to drop payments, payoff credit card debt and get a low fixed rate.

Now for you Realtors, how about this? Take a buyer, get them pre qualified, and we are doing 100% loans at 5% with NO PMI !!!!!!!

That is incredible. A 5% rate Fixed for 30 years and we can even finance closing costs for the buyer. If you aren't utilizing this program I think you're losing sales. Perfect credit is not required and closings take an average of 22 days.

Let's start now and build momentum for a great '09