In the history of the United States, interest rates have never been as low as they are today. This fact has serious meanings more than what just meets the eye. The low interest rates tell us a lot more about our countries economy and also allow us to contemplate different kinds of investments based on opportunities and risk. Since the interest rate is so low it seems to be a tremendous time to buy a home, right? Well the answer is yes but it also comes with some stipulation.
Buying a home right now and locking in such a low interest rate is one move that can greatly benefit individuals and their families. The problem, however is that the low interest rates signify extreme insecurity and nervousness of the future of Americas economy. This fear makes it very hard for people to get approved for loans without a tremendous credit score. That creates a stalemate for most, because they want to buy a home, but do not have the necessary capital and credit score in order to get one. For some with capital and solid credit, buying a house at today’s interest rates may be a once in a lifetime opportunity. It’s all about pulling the trigger. What will happen in the future? Nobody knows, but we all have our guesses, so be prepared for anything!
Here is a chart to reference so you can see the graph for yourself! http://mortgage-x.com/trends.htm