A COOL WIND BLOWING?

The strong winds are blowing in a cool 2007 real estate forcast. The news is not "Red Hot", but it isn't "ICE COLD" either. The Daily Real Estate News, reported on January 5, 2007 that 30-year mortgage rates are holding. The financial markets during the first week of the year were still trying to determine how much the economy is likely to slowdown, according to experts. For the second consecutive week, Freddie Mac reported 30-year fixed loans averaged 6.18 percent. However, other rates remained mixed. Interest on 15-year, fixed mortgages rose slightly to 5.94 percent, rates on five-year adjustable-rate mortgages moved up to 6.02 percent, and one-year ARMs slipped to 5.42 percent."Currently, the market is waiting for a clearer signal on the direction in which the economy is headed," says Frank Nothaft, Freddie Mac chief economist. Rates on 30-year loans declined over much of the second half of 2006 as the housing market continued to falter.

Ingman News agreed that mortgage rates are still low, inventory at an all time high and a great time to buuyers to enter the market. If you are looking for a home, don't let the winter weater stop you from finding your "dream Home".