The Perfect Time……?

The Obama administration has announced they will stop buying mortgage backed securities on March 31, 2010. With unprecedented government spending and higher oil and gold prices, this move by the President has laid the ground work for a surge in inflation and higher long term mortgage rates. Watch how fast the mortgage interest rates rise after March 31st. Never before have prices and rates been at historical lows like this. On top of this, the government is offering a tax rebate if you buy before April 30th, 2010. This may be the last chance for many years to own real estate this affordable along with a tax benefit. I’ll keep you posted.