Recently the instability of the real estate market has caused interest rates to be kept low. I recently have had quotes of 5.75% apr fixed for 30 years for some of my customers. One of the new programs I am noticing which lenders are pushing is the 2% first year discount and 1% second year rate discounts on your 30 year fixed mortgage. This type of loan will help out borrowers in the first two years keeping your payments down as you build your American dream.

Unless you just crawled out of cave after years in hiding then you would know that this is a true buyer’s market. The local inventory is up 40% and the sales are down 10-15% which is a climate for good deals. Home sellers are now accepting offers that a year or so ago they would laugh at, not anymore.