Prepared Homebuyer…

“BEFORE ANYTHING ELSE.. PREPARATION IN THE KEY TO SUCCESS.”  Alexander Graham Bell. Very true words – and preparation is especially important these days, as several circumstances will make this fall a particularly successful time for prepared home buyers.

Rates for home loans remain low – but it won’t last forever.  The Fed continues on their purchasing plan of Mortgage Backed Securities, and the added demand has kept Bond prices high and home loan rates low.  Last week, they purchased another $32.4 billion, bringing the total to $849 billion out of the $1.25 trillion they committed to.  While these Fed purchases have helped home loan rates stay near present low levels, remember that their buying program is set to be over near the end of the year.  There is talk that the program will be extended – but there has also been talk that it will end early – so nothing is a guarantee, except for the fact that when the Fed purchasing program is over, home loan rates will assuredly rise.

In addition, given the current expiration date of November 30, 2009 for the $8,000 first time homebuyer credit, it’s important for homebuyers to get prepared, and take action.  In fact, many homebuyers are doing just that already.  The Mortgage Bankers Association reported that home loan applications surged in the latest week to their highest level since late May, as more buyers are seeing the great opportunity that exists right now.

The Stock market is doing well – and the S&P 500 Index closed at its highest level in 2009 last Thursday.

So if you are thinking of buying a home and want to talk to a Realtor, let us know.  You can e-mail us, visit our website, or call us at 573-447-4300.

Thanks to Kristy Bryant at Bank of Missouri.

~ by infoonhome on September 17, 2009.