If you didn't already hear the news today, President Obama is encouraging all of us to take advantage of today's low mortgage rates. Whether you are buying a new home or refinancing your current home, the historic low mortgage rates should free up some cash for everyone.
Home buyers can get into the home of their dreams for less than they had thought leaving more money for furniture and dinning out. Home owners who are able to refinance with an interest rate under 5% will be able to pick up hundreds of dollars each month in discretionary income. Bottom line is the government is using our tax dollars to buy down the rate so if you want to get your piece of the bailout that you are financing, get out and buy or refinance your home. Before things change and mortgage rates go back up again!
Don't forget to take advantage of the $8,000 first time home buyer tax credit!
