Monday, February 18, 2008

Low Mortgage Interest Rates to Benefit Homebuyers

 Low Mortgage Interest Rates to Benefit HomebuyersReal estate has been awash in bad news. But there is still some good news.
Mortgage interest rates are still very attractive on a historical basis. Could anyone complain about a 30-year fixed-rate mortgage with an interest rate of less than 6 %? Or a 5 % 15-year mortgage? Traditional hybrid and adjustable-rate mortgages still come with very attractive interest rates as well.
The Fed's decision to lower its Funds rate should ease credit and allow more buyers back into the market, which can only be a good thing for a real estate market struggling to find its footing.

Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown, NJ office. You can reach Smitha online at:,,, ,, &