Mortgage News

With the all the economic indicators and the stock market fluctuating up and down all day, every day, it can be tough to figure out if this is the beginning of the worst, or the beginning of the turn around. One thing that is really important to remember is that while the general economy is not doing well, to say the least, your own financial situation may be secure, and even improving. I heard a great interview on NPR a few months ago with a analyst who focuses on shopping, and he said that many people are doing just fine, or even better than ever, and yet they aren't spending because they are embarrassed not to be suffering with the rest of the country. If you fall into that category it is great to curb frivolous spending, but investments, such as real estate, should not be put off for a sunnier day. Mortgage rates are as low as they have ever been, and may not be dropping much farther. The Fed has done everything it can to bring the rate lower and lower, and now they don't have many other options. In Portland, the market is becoming very competitive for first time buyers and investors in small homes. Multiple offers are being made on many homes, and prices have stopped dropping as dramatically as they have.