the fed reserve bank lowered interest rate by half a percent?

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and houses are becoming cheaper by the day.
If this trend continues, would it be smart to wait a few more years and buy a new house for $ 50.000, with a zero percent mortgage loan?

5 Comments
  1. Reply
    matthew h
    January 21, 2011 at 2:36 pm

    It would probably be smart to wait for a while, as most analysts think the market has a ways down to go, but as for $ 50,000 and a zero percent loan, you’re dreaming.

  2. Reply
    scruffy_scirocco
    January 21, 2011 at 3:27 pm

    It would be smart to wait a little while. Expect another quarter percent rate cut in October. A few years might be too long. Don’t go with an exotic loan like interest only. Get a regular FHA fixed rate loan, unless you prefer living dangerously.

  3. Reply
    Frank Castle
    January 21, 2011 at 3:49 pm

    No.

  4. Reply
    Cool m
    January 21, 2011 at 4:19 pm

    Home loans are now available to many people for whom they would have been out of the question just a few years ago. You’d be in much better shape to bargain for better interest rates if you had a more impressive credit history, but if the house you want is the deal youinterest rates, get bigger returns on the money loaned, and the borrowers get a homes in which to build equity, and chances to restore their credit records so that the first bad credit home loans they take will also be the last!

  5. Reply
    abenezerscroogexxx
    January 21, 2011 at 4:54 pm

    if you wait a while longer yet, the banks pay you to take them of their hands, you’d also might want to shop around for a house in Detroit, I hear you can pick up houses there for around $ 5000, right now.

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