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Great News for Buyers in Pompano Beach properties & All of South Florida Real Estate, Mortgage Rates dropped this week!

Mortgage rates on the average 30 year fixed loan dropped from 6.13% to 5.87% and the average 15 year mortgage fell from 5.6% to 5.27%.

It is a breath of fresh air for many buyers who were not seeing mortgage rates come down much even though the Federal Reserve has dropped the short-term interest rate several times in the past few months. This is a good sign that the Fed's efforts to stimulate the economy are starting to take effect.

Depending on your loan amount, this could significantly lower your payment by thousands or tens of thousands of dollars over the life of your loan.

With the South Florida real estate market being the hardest hit in the nation combined with favorable mortgage rates and falling property taxes, it creates a perfect storm for buyers to buy now. Whether buying a condo, townhouse, villa, or single family home it is a great time to seriously think about buying property.

Sellers should take heart with this great news too. Once buyers realize that it is the perfect time to buy the prices will level off and then start to rise again, providing some much desired relief from doomsday real estate predictions.

Visit Wieder Realty's website for a complete list of our properties for sale in Palm Aire Country Club at http://www.palmairerealestate.com/HomesAuthenticated.aspx?tabid=2024054

You can also see properties for sale throughout all of Pompano Beach, by clicking here http://www.pompanohomesearch.com/content/featuredlistings.html?ag_id=347232&featuredproperty=1

Contact Wieder Realty for more information regarding buying and selling property for sale and properties for rent in Palm Aire, Pompano Beach, Fort Lauderdale, and the rest of South Florida.

954-978-8300 Local

800-634-1265 Toll Free

Info@Palm-Aire.com Email

Wieder Realty is located right out side Palm Aire, between Walgreens and the Isle Casino. Feel free to stop by and visit us at 900 S Powerline Road Pompano Beach, FL 33069

Posted by Randy Harden on 03/21/2008 07:20 AM

Comments (3)

mortgage rates, palm aire, pompano beach, properties, south florida, condos for sale

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3 Comments on Great News for Buyers in Pompano Beach properties & All of South Florida Real Estate, Mortgage Rates dropped this week!

Where is a good place to get prequalifed without the hastle of dealing with someone pushy?

03/21/2008 04:59 PM

There are several ways to find out what you can afford to purchase:

1. There are many places online that you can online. One such place is

http://www.palmairerealestate.com/Calculators/page_163210.html

2. I can tell you that the best way to really get a good understanding of what you can qualify for is to speak to a mortgage professional. Rates go up and down varying on the type of job you have, how long you've worked at it, your credit scores, etc. The most reliable and non-pushy mortgage agent that I can recommend is Lisa Kislia with Flagship Financial in Fort Lauderdale. She can be contacted via her email address, lisa@flagshipfinancialservices.com

I myself have spent time as a mortgage agent while still working as a Realtor in order to get a greater understanding of the ins and outs of the mortgage process. Most real estate transactions fall apart from the mortgage, so it is very important somone who makes their living on giving the best possible service to have an extensive understanding of each field. However, I no longer handle mortgages, because I prefer to focus my energy primarily on my real estate expertise (and my fiance).

According to BankRate.com, a website I use a lot to find competitive rates you can get a 30 year fixed rate anywhere from 5.5% to 5.75% today. Which is very low from a historical perspective.

03/22/2008 10:38 AM

by Wieder Realty, Inc.

I forgot to share this with you, Lisa just joined Active Rain. http://activerain.com/lisakislia

03/22/2008 10:57 AM

by Wieder Realty, Inc.