(2009)Mortgage rates in Northern Virginia will likely stay close to their current range for the rest of the year, if you ask me. So don’t panic home buyers… your rate should be there.
Next week is the mid-year NAR conference in Washington D.C., and you should expect the usual cast of characters to address the one-million member association. Washington D.C. cats like Fed Chairman Bernanke, or President Obama… oh yes, El Presidente will make an appearance (scheduled at the last minute) at the lavish extravaganza being held at four D.C. hotels.
The real estate business is an essential part of the U.S. economy. And low mortgage rates have played a vital role in motivating consumers to buy homes, refinance existing mortgages, and a key example of a morning ray of sunshine on the horizon. This is a fact that has not escaped the White House.
If rates start to creep up then they will quickly squash the parade of home sales, and lead to a cascading economic crisis that no one wants to dream about.
President Obama has given hope to the consumers of the U.S.A. — not to buy new TV’s and other worthless junk people bought to impress people they didn’t even know, but to invest in a proven long-term investment that can be enjoyed while using it.
Yes, that is a home made in America.