Pinetop White Mountain Blog

Good Morning Everyone,

Well it is another fine morning in the White Mountains of Arizona.  It is a little chilly but the sun is shining and the temps aren't too bad.  Just a little breeze that makes it feel colder than it would otherwise.

You've been hearing it for months and it is finally about to happen, interest rates are going to go up April 1st.  Probably nearly a full percentage point and maybe more.  Below is an article from REALTOR® Magazine that will explain why. 

If you have been putting off buying you need to move soon.  Not only are we going to see higher interest rates which will result in less buying power, but those all important tax credits are going to end by the end of April too.  Inflation is about to hit and with it less bang for the buck so to speak and buying power is going to be reduced. 

Real below and then get moving.  You have a great window of opportunity right now to get in on homes that are priced below the 2003 levels and interest rates are still artificially low.  Don't miss out on this prime opportunity to purchase a home at a great price and with a fantastic interest rate on your loan to keep the home affordable for you long in to the future.

Enjoy the article, and I look forward to hearing from you soon.

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR®  (928) 242-0300

Daily Real Estate News  |  January 11, 2010  |    Fed: It's Time the Market Stands on its Own April 1 will be the first day that the Federal Reserve will end its debt purchase program and allow the struggling U.S. mortgage market to operate unassisted. As a result, the Fed believes mortgage rates will rise about three-quarters of a percent to about 6 percent, Boston Fed President Eric Rosengren said Saturday. Fear of a worldwide perception that the U.S. government is simply printing money to use to purchase mortgage-related securities is a big reason the Fed has pulled back, analysts say. If that fear caused a sell-off of U.S. government bonds, it would push borrowing costs substantially higher and derail the economic recovery. "We are still in uncharted waters," Fed Vice Chairman Donald Kohn said in an unrelated speech Saturday. "We will need to be flexible and adjust as we gain experience." Source: Reuters News, Pedro Nicolaci da Costa (01/08/2010)