Eric Rojas, Chicago Real Estate Broker

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Thursday, September 03, 2009

Mortgage interest rates lower this week, tax credit expiring

With rates near an all time low again - and the tax credit about to expire - now is the time to sign that contract on your new home. Time is running out….here is a great breakdown of rates over the last 8 months. We are seeing rates around the 5% range which haven't been here since the Spring.

The basic message is, rates are back to winter/spring levels. Everyone may know the federal first-time buyers tax credit is expiring on November 30th, but they may not be up to date with where rates are. They have been falling the past 2-3 weeks. With the credit expiring and rates low again - buyers have a chance to purchase during this valley we are in.

Please contact Brian Cumpton, RWF Wells Fargo, at

Many are predicting mortgage interest rates will push up after 1st quarter of next year - if not the 2nd.

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