If you’ve been anywhere near national news web sites in the last several days, I’m sure you’ve at least seen or heard the names of Fannie and Freddie pop up once or twice. Just do a Google News search for Fannie and Freddie (or click the link since I already did all the hard work for you) and you’ll have plenty of reading material for the rest of the day. You might even learn a thing or two about the national mortgage market and how our mortgage system works.
I’ll spare you the boring details and get to the bottom line of what this means to buying a home in Estes Park. Mortgage rates are extremely low. Local mortgage broker Harriette Woodard of Estes Park Mortgages, is now quoting rates as low as 5.5% for qualified buyers which is big drop from previous weeks.
There is a lot of talk in the mortgage world trying to predict just how long these low rates are going to stick around. The only thing I can say is “there are no guarantees” in the mortgage world these days. If you have had thoughts about purchasing property and were worried about rates, NOW is the time to buy property. Give me a call or email and we can get started on the process of buying you a home today.
