Vicky Turel at REMAX Equity Group

Marry The House And Date The Rate!

After a sharp drop last Friday, many average Interest rates inched up slightly this week but most remain lower than they have been since July 8th.

The Portland Metro market is very slow at this point and some sellers are offering buyers buy down credits to lower their rates and/or closing costs credits.

Many buyers remain hopeful and are waiting to purchase until the promise of September's Fed reductions.

Some industry professionals are only estimating a 1/4% - 1/2% reduction in those rates. If the predictions of these rate reduction amounts hold true the monthly payments on those 30 year financing rates will slightly decrease.

Be sure to contact me if you would like information on some great lenders who offer free consultations and who offer some great loan programs!

Check out this chart courtesy of Mark Irwin, Directors Mortgage.