Chicago Real Estate Blog - Details  | Blog Start

Fed drops rates again!!

Posted by: John S. Osga - Managing Broker - 1/22/2008 11:44:19 AM

If you're wondering where rates are right now you should know that they are very low!! I just locked in a conventional 30-yr. fixed at 5.5%. That's a big difference from the same loan I did last July at 6.625%. If you're considering buying something your payment will be significantly less on the same sales price than what it would've been last year. So if you are waiting for something to convince you to get into the market then this might be one of those instigators that gets you off the fence. See for yourself by using one of Nexus Chicago's mortgage calculators on the details page of any property you see online at www.nexuschicago.com. Stay warm and start thinking about the opportunities out there in real estate right now.

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