Wow -  I spoke with Michele Zelvis today, who is our preferred lender with PrimeLending, and found out that rates have come down to nearly 5.25%!  Michele felt that rates could continue to come down and even dip below 5% sometime in January.  There is no guarantee that rates will come lower given how volatile the rates have been lately but today's rates are outstanding!  The rates and home prices are at such a good place right now that I wish I was in the market for a home myself.  If you are looking for a home in Wake Forest or the Raleigh area and are considering putting in an offer you may want to go ahead and commit so that you can lock in with these rates now!  So start your Wake Forest home search today!

There has been some talk within the Treasury Department to put together a plan to encourage banks to lend as low as 4.5% to help lift home sales but this plan is still in development.  There are several concerns though that might not make this plan to come to realization.  One of which is that investors may have little interest in purchasing 3% Treasuries to fund 4.5% mortgages leaving the US Government to buy them and put more Treasury debt on the market.  I'll definitely keep you updated if anything develops with the plan though.

If you are interested in speaking with Michele at Prime Lending about the current mortgage rates and financing options please visit this page for her contact information: http://www.aliceray.com/mortgage.aspx.

Here are the latest rates compliments of Michele Zelvis.