The Chicago Tribune on March 27, 2009 says this is lowest mortgage rate since 1971. Freddie Mac said that average rates on 30 year fixed-rate mortgages dropped to 4.85 percent last week, down from 4.98 percent. Refinance applications surged recently also.
Inventory remains high in Naperville and surrounding communities. Home prices are the best we have seen in years and the sellers are looking at most offers. Current inventory, interest rates and the First Time Homebuyer’s $8,000 tax credit provide one of the best buying opportunities for first time homebuyers in recent years.
If you’re interested and want reliable information regarding the market, foreclosures, and current incentives, give us a call at 1-630-803-2347 or e-mail to: www.piketteamrealtors@hotmail.com.