Here we discuss all matters Real Estate, with an emphasis on Tucson Arizona. We welcome your story ideas. Via Realty is a boutique real estate company founded on Jan 1 2000 by 2nd generation Arizonan Wayne D Anderson, a Realtor since 1989. www.ViaRealty.com 520) 327-1550. Equal Housing Opportunity.

Thursday, December 4, 2008

More Good News

More good mortgage news from the Federal Government. In a move to further push mortgage rates down, and stimulate the housing market, Treasury Secretary Paulson is considering a new plan to reduce mortgage rates. Further implementing the purchase of mortgage backed securities, the move could push rates to 4.5%, according to an unnamed government official. Here is more from Bloomberg News.

We have seen substantial reduction in mortgage loan rates in the past two weeks, one lender we follow had a Dec 2 quote of 5.25%, APR 5.404% for a 30 year fixed conventional loan and 4.875%, 5.135% for a fixed 15 year conventional mortgage!

Refinances are gaining steam and despite the cloudy take in the article, lenders do have money to lend and are offering it to qualified buyers with decent credit.

This is a big opportunity for someone who has been sitting on the fence waiting for a good reason to buy a home.

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