Take ad­van­tage of low in­ter­est rates now

North Penn Life - - Real Estate -

Mort­gage rates continue to go down. In fact, ac­cord­ing to Fred­die Mac, dur­ing the last week of Septem­ber, the av­er­age rate on a 30- year fixed rate mort­gage reached the low­est point since long- term mort­gages be­gan in the 1950s.

“The mar­kets are re­spond­ing to the re­cent de­ci­sion by the Fed­eral Re­serve to buy mort­gage- backed se­cu­ri­ties, and con­sumers are the ben­e­fi­cia­ries,” said Steve Adamo, pres­i­dent of We­ichert Fi­nan­cial Ser­vices.

“These in­cred­i­bly low rates cou­pled with still at­trac­tive home prices make buy­ing a home more af­ford­able now than at al­most any point in his­tory.”

To take ad­van­tage of this op­por­tu­nity to reach one’s real es­tate goals, here are some things Adamo sug­gests that po­ten­tial buy­ers get started on as soon as pos­si­ble:

•Talk to a real es­tate sales pro­fes­sional right away and sched­ule ap­point­ments to see as many homes as pos­si­ble as soon as pos­si­ble, in­clud­ing open houses.

•Have your real es­tate agent put you in contact with a loan of­fi­cer who can help de­ter­mine your price range and pre-ap­prove you for a loan so you are ready to move for­ward as soon as you find your per­fect home.

Agents typ­i­cally are a good re­source for mort­gage and other hous­ing-re­lated ser­vices, and may even have per­son­nel avail­able right in their of­fice.

•Sit down with your spouse and/or other fam­ily mem­bers and have a se­ri­ous dis­cus­sion about your wants and needs.

In an ever-chang­ing mar­ket, be­ing able to make a quick de­ci­sion can mean the dif­fer­ence be­tween lock­ing in at the low­est pos­si­ble rate and one that might be higher.

•Once you have made your de­ci­sion on a home, uti­lize your sales agent and loan of­fi­cer to help you stream­line your clos­ing.

Many real es­tate com­pa­nies of­fer on­estop shop­ping that pro­vides all the ser­vices re­quired to com­plete a real es­tate trans­ac­tion smoothly and on time.

For more in­for­ma­tion about ways you can ben­e­fit from record­low mort­gage rates, visit www.we­ichert­fi­nan­cial.com or call 1-800-837-3031. To find your lo­cal We­ichert of­fice, please visit www.we­ichert. com.

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