If you’ve been waiting for a sign that it’s time to buy a home, you got it on Monday. According to MSNBC.com, mortgage rates dropped sharply on Monday. Bob Walters, chief economist at Quicken Loans said, “I’ve seen a drop like this happen maybe two or three times in my 17 years in the business”. After dropping from over 6.25% to 5.88% on Monday, a 30 year fixed rate mortgage now has a rate around 6% today. For the whole story read, “Mortgage rates drop sharply after bailout plan“.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
