After reading another Yahoo Finance report on how the mortgage rates have hit another record low. They have fallen to 4.54%, down from 4.56% on 30 year mortgages. In fact, several weeks in a row this has been the tune that is playing and it started to make me wonder.
The average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week, mortgage company Freddie Mac said Thursday. That’s the lowest since Freddie Mac began tracking rates in 1971.
The last time rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.
Is this good news that rates are so low or is this a warning signal of the bad things that are coming?
- Source: Yahoo Finance
What do you think? I am not sure either way, but I know that buyers should not be in any hurry to lock in any “deals” at the moment on property. Whenever the real estate market does turn around or at least stabilize, it will not be anything dramatic or all of a sudden. It will be a slow and steady recovery if one is to come any time soon.
Or, this could be a major fallout that is about to get worst and worst. With the treasury bills starting to soften as the big money that controls these things start to look for safer investments, what does that tell you? There must be something else that is coming that many of us don’t see….or at the very least the smart money is betting that it is going to get worst before it gets better and is placing it’s money else where.
If you were just learning how to invest in real estate, would you think?
What do you think? Do you think the low mortgage rates are an opportunity for you to jump into the real estate market or is it a warning that things are only about to get worst?
