Move Closer to Work

Move Closer to Work

The price of gas has gone to the $4.00 mark give or take depending upon your area and any given station.

Even with predictions that the price of gas will decrease by about $0.50 over the next month, the price will still be very high, such that it is making it hard to spend money on other things, many of which are necessities.

However, this negative news about the economy has a positive side. Investors are putting much of their money into the bond market, which is helping to keep mortgage interest rates low.

Additionally the number of foreclosures and short sales on the market is still heavily influencing real estate values to keep them depressed.

With these low interest rates and these low property values, this is an ideal time to purchase a home closer to work.

Also, depending upon your particular circumstances, you may be able to rent your current home until prices begin to appreciate again.

Mortgage interest rates are currently at about 4.5% for a 30 year fixed rate loan.