My New Blog

HOne reason to buy now - mortgage rates

Homes are plentiful and will remain so, but financing will be getting more expensive. True, the Federal Reserve has slashed interest rates, but fixed mortgages don't directly follow the Fed. They reflect the bond market's expectations about inflation, which remains a concern. The 30-year, now at 6.1%, will likely reach mid-6% by December and 7% in 2009, says Celia Chen of Moody's Economy.com.

That means there could be a penalty for waiting to buy even if prices fall more. Today a $250,000 loan would set you back $1,500 a month. At 7%, a $1,500 payment gets you only a $225,000 mortgage. As for variable-rate loans, the spread between conforming ARMs and fixed loans is too narrow to do you much good.

Here's some advice from the experts at AIG - waiting longer if you are considering buying soon could cost you

Hi everyone,

Keep an eye on the bond markets - they are taking a downward trend - which makes for higher interest rates.  If you are buying something lock that rate now! 

Now that the weather is finally turning to summer come visit us in the OBX. Things are picking up here though peak craziness doesn't start for a few more weeks.  If you want to rent a home, consider bargaining a lower price on a home that's not rented - great deals can be had.

Feel free to call anytime you are in town!

Carol

For those of you that are interested in property south of Nags head on Hatteras Island - here is a site to keep tabs on the bridge replacement over Oregon Inlet.  Please help support this very important issue with the only access to Hatteras Island.  About 40,000 people are down there during some summer days and it would be impossible to evacuate without that bridge.

Help protect access to this very beautiful, wild area - one of the few left.

www.replacethebridge.com

Thank you to all our veteran's and especially to all the families that have made such incredible sacrifices for us all!

Have a wonderful weekend.

Carol

Happy Mother's Day to All You Mom's

Hi,

Great news - a new Harris Teeter is going to be built in Kitty Hawk where the current Sea Mark is located but larger - in the mall with WalMart.  There is already one in Corolla and Kill Devil Hills and finally there will be one as you come over the bridge starting next summer.  For those who have never been to one - it has a fantastic pre made dinner selection/ Deli/ fresh seafood and LARGE beer and wine area complete with a cold walk in area.  The produce is excellent.

In other good news, the bond market is up and it looks like it may continue - dropping the mortgage rates even further.

Have a great day.

Carol

Apparently Donald Trump and many other real estate moguls are buying up property at a hurricane pace!  Low prices and low interest rates are the reason - now is one of the best times in history to be a buyer - Don't kick yourself later.  Come enjoy our beautiful spring weather and peaceful beaches here in the OBX before the crowds hit.

Give me a call or email anytime!

Carol

Hi Everyone,

Just letting you know that somehow a Microsoft  program went haywire and sent some messages dating back to February or more out today - my apologies.

Carol Hayhoe

Shore Advantage Realty