Watch the interest rates, they keep falling!

Interest rates have been all over the place in recent weeks. Most recently interest rates for mortgages have begun to fall again. Last Friday a local mortgage broker was quoting 5.875% on a 30 year fixed interest rate mortgage. The West Virginia Housing Fund released $20 million to be loaned out at a 4.99% fixed interest rate on a 30 year loan. There is about $13 million left. If you are a first time home buyer who qualifies for this program, you can get this rate and even with no down payment, 100% financing. Closing costs can be financed as well up to a certain amount at a reduced rate as well. Call your local lender to find out more details. If you were on the fence about buying a home, now might be the time to make a decision. Email me as well if you should have any questions on real estate at todd@toddnelson.com.