This week the mortgage rates went back down. Now is the time to buy or refinance. Many financial commentators are expecting inflation in 2011. If that comes about, mortgage rates will rise. We currently have about a 6 month inventory of single family homes priced up to $499,000. That inventory is usually considered normal and means that prices have stabilized at that price point. (What is inventory? It means if no new homes came on the market, at the current rate of sales, we would sell all the houses in a six month time frame). If inventory goes down to less than six months there is more demand at that price point and prices will go up.
So if you are looking for a home or want to sell your home, do it now!
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