This year we’ve seen several major trends rock the real estate market here in Portland, and for the next week we’ll be looking back at the big real estate trends and concepts that have made 2011 a great year for the McDonald Group Portland Real Estate experts. Next up, the trend of mortgage rates that have everyone asking “how low can they go”?
It’s not too late to take advantage of low mortgage rates. While rates are expected to rise slightly in 2012, they will likely remain low. Freddie Mac is out with some predictions for 2012, and front and center is the sentiment from the mortgage giant that mortgage rates will remain low in 2012. Right now, those rates are as low as they’ve ever been. The BankingMyWay Weekly Mortgage Rate tracker stands at 4.125% for fixed 30-year mortgages and 15-year mortgages are a bargain at 3.5%, with the five-year adjustable-rate mortgage at 3.01%.
Here’s the good news for 2012: the chief economist at Freddie Mac says that’s right where mortgage rates will stay in 2012,at least until the middle of next year.
As Scott McDonald of the McDonald Group said earlier this year, “We all know mortgage rates are low right now, but Freddie Mac really put a light on it by saying they are currently lower than they have been since they began tracking this data in 1971 and MSNBC.com states the last time they were this low was in the 1950′s. Yup, the economy stinks right now, but if you’re in a position that’s somewhat insulated from economic trends and are thinking of buying a home, now really is the time.”
Let’s repeat: Now is the time to buy a home in Portland. Luxury homes in the Portland area are steeply discounted, and first-time homebuyers can find opportunities to own their own spot in one of Portland’s hip neighborhoods. The McDonanld Group is your experienced Portland Realtor, and we’re ready to help you grab a great deal on a great home, so contact us today. We’ve got access to the best homes for sale in Portland, including rock bottom prices on bank owned homes, foreclosures, and short-sales. Don’t miss this historic opportunity!
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