Best possible news to begin a great 2008

Posted Jan 10, 2008 @ 12:23 am, Viewed by 323 Visitors, Read 325 Times.

I write with the best possible news to begin a great 2008. When the stock market is troubled, it is always good news for our industry and this week is no exception.

Interest rates are back to to historically low numbers.

Conforming loans (to about $417,000) are now down to only 5.5% interest for a full 30 year loan!!!!!!

What does this do to payments:
This means a $200,000 loan is only $1,135.58 per month for 30 years!!!!
This means a $300,000 loan is only $1,703.37 per month for 30 years This means a $417,000 loan is only $2,367.68 per month for 30 years

For those Jumbo loans (over $417,000 rates are the lowest they have been in 6 months or more. There are in the range of 6.5% for a full 30 year loan.

What does this do to payments:
This means a $500,000 loan is only $3,160.34 per month for 30 years This means a $750,000 loan is only $4,740.51 per month for 30 years

Homes in Orange County that were a million dollars just six months ago are now priced in the mid $800,000s. The opportunity today to buy an incredible property is the best in years. You have a very low price and a very low interest rate.

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pcanavan

pcanavan Born in Dublin Ireland , a thoroughbred Irishman, Patrick spent a great deal of his early life as an Athlete. And Known throughout Dublin for his skill in Gaelic football.  With his 15 year background in Architecture he has been trained by the best and brought valuable experience to Prudential California Realty. Read More

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