Interest Rates

Well, I'm hoping it's not going to stay this way, but it looks like the days of sub 5% interest rates are going by the wayside. Over the last couple of weeks I've heard over and over that rates are going up up up! Not what I was looking forward to just as I was seeing the market pick up. Overall though, I am still hearing that they aren't bad. I still consider rates under 6% to be a great deal. I guess we were just getting a little spoiled with the really low 4.5%.

On another note, I am still seeing a lot of new construction that has special financing for under 4%. I know the condos I work at are offering 3.875% financing on the tower units. What makes the deal even better is that if you have to sell, they will give you that deal on the listing. So, if I am listing the house, we could offer 3.875% financing as incentive and you'd get it on the purchase of the condo. Not too shabby!