Gray Maine Homes For Sale

Change is in the wind!

Recent changes with Fannie Mae and Freddie Mac have made qualifying for a home loan a little more challenging for a lot of buyers. Some of my real estate networks predict that HUD might soon adopt similar guidelines for FHA insured loans.

This would put into place tougher new guidelines for prospective buyers to follow, and I won’t be surprised if interest rates go up at the same time. As a prospective home buyer, you may currently quality for a mortgage, but with pending changes in regulations, you may not next week or next month.

While qualifying presents it’s own challenges, mortgage rates plumb to new depths . According to the Wall Street Journal, Freddie Mac reported the average interest rate on a 30-year fixed mortgage dipped to an all-time low, for the third consecutive week, to 4.19 percent.

At the same time, 15-year fixed-rate loans and the five-year adjustable-mortgage rate both also hit record lows. Rates on the former were 3.62 percent, while the latter averaged just 3.47 percent.

If you are undecided about purchasing a new home, we should talk sooner than later. Let me guide you in the right direction. If you are thinking about investing in a new home, I advise you to not hesitate. I don’t predict these rates will remain in 2011.

Contact us through our website at Meservier.com or for immediate service, give us a call at 207-784-2525

We are:

Meservier & Assocates of Keller Williams Realty Mid Maine, 34 Center Street Auburn, Maine 04210