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Where Goest Mortgage Rates? Keep The Cart Behind The Horse

Posted on Wednesday, April 04, 2012

I say it is pretty tough to predict interest rates. Even some of the all time greatest financial pundits and leaders get the forecast wrong – like the folks at Pimco last year. So our thoughts this morning are this – sure rates are “low” but do not let that force you into a property buying decision. Make sure you like the place first and do not lose track of the fact that it is the property not the financing that is fun, cool, a big wow and all that is right. Keep the property “horse” ahead of the financing “cart.” Is now a good time to buy with these so-called low rates? Maybe – but make sure you like the place!

The folks at CNN Money recently (March 16, 2012) stated “The average rate in the U.S. on the 30-year fixed mortgage hovered near historic lows this week, making home buying and refinancing more attractive to those who can qualify.” True – but first find the place you like. The article goes on to say “The rate touched 3.87 percent four weeks ago, the lowest since long-term mortgages began in the 1950s.” Impressive.

Our advice is get out there in the market with a realtor and see what properties appeal to you – emotionally and practically. And then, only then, think about these rates. Don’t put the cart before the horse.

No legal, investment, or tax advice is being given in this Blog.  Consult with legal, financial and tax professionals before acting on any real estate transaction.  Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Some of the data relating to real estate for sale on the website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921
Facebook: NaplesBestAddresses
Twitter @mcgoebel
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