Mortgage interest rates are at an all time industry low? Only earlier this year when they dropped to an average of 4.875% for several weeks have they ever been lower than they are right now.

That the Fed allotted $1.25 Trillion to buy mortgage backed securities as part of our stimulus plan and that is what is holding our interest rates artificially low? The Fed has already spent over $700 Billion of that allotment. Once they spend the remaining $500 Billion mortgage interest rates WILL RISE.

The current average price for a home in Maricopa County is similar to the average price of a home in 2001 ($125,000)? In 2005 the average price for a home was $249,900

May & June 2009 are ranked as the 8th& 9th top months EVER on record for Sales in Greater Phoenix?

The average annual US Population growth is 1.1%. The demand for housing insures that we will again begin to see the appreciation of real estate.

The average national appreciation for a home is 6%? If we began to see half of that (3%) a borrower buying a $100,000 home will see a year over year appreciation of $3,000. With a 10% down payment ($10,000), that is a 30% annual return on their investment.

A BUYER CAN CURRENTLY PURCHASE A HOME AT THE LOWEST PRICES WE’VE SEEN IN 9 YEARS, AT THE LOWEST RATES OUR INDUSTRY HAS EVER SEEN AND WE KNOW THAT MORTGAGE INTEREST RATES WILL RISE IN THE NOT TOO DISTANT FUTURE…

THE TIME TO BUY IS NOW!!!

Jim Passamonte
Your Mortgage Professional

602-909-0862
Peoples Mortgage