Wednesday, May 19, 2010

Real Estate in Indiana - Mortgages

Wow, I was wrong on mortgage interest rates. I really felt we'd be running closer to 6% on rates by now, and we're actually looking at cracking 5% again today! Why?

  • One of my favorites, the markets believe that conservative politicians that are winning in primaries in the US this year will begin to roll back the massive levels of debt being sponsored by the Obama administration
  • Europe borrowed their way all the way to bankruptcy, especially in Greece and possibly Ireland. As Europe begins the process of cutting the size of government, and bailing out these nations, we are getting the benefit of "flight to quality" investors here in the US.
  • Real Estate is actually recovering, which should be pushing rates up, but the markets are so worried about a double dip that inflation fears are staying in the background.
This all adds up to some seriously low interest rates, at the same time that the real estate market here in Northwest Indiana is really starting to hum along. I put my own house on the market (7,000 sq feet and $650,000 for anyone interested) ... and believe it will sell pretty quickly.

P.S. The Matt Evans Team is handling my listing - my wife Julie works with Matt at Keller Williams Real Estate here's Matt's webpage: Matt Evans Team Valparaiso Real Estate

Julie's Webpage for your next listing: Julie Dalton Professional Real Estate in Northwest Indiana

13 comments:

nat finn said...

It'll be a great sign if a house of that size sells quickly. A great sign.

Whereat in valpo are you looking?

briefs said...

We bought another house in keystone commons next to the high school. Just getting basement finished now and will move in July.

Anonymous said...

great info here!
ncie blog, thanks!

homes for sale Philippines said...

Congrats for selling your property quickly.

Deirdre G

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Abbie said...

As of now, I think mortgage rates are lower for the past months here in Canada. There are beautiful houses being sold in good rates here in Edmonton. Best mortgage brokers are giving better options for homebuyers later this year. Some of my long-time friends are interested in applying for home loans (Alberta) because of this rare opportunity. I think the bank owners are doing great in lending more flexible terms.

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paula said...

I think I just need to put my property in listings there too. :)

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