2009 the right time to buy property in the US?

If you have a good credit rating, proof of a reliable income and manageable debts this is the perfect time to buy a property according to HSH Associates.

So forget all the doom and gloom surrounding the housing market and get searching for your bargain property, 30-year Mortgage rates have not been this low in the US since 1961.

The US Government has started buying up mortgage backed securities to kick-start the housing market and in December 31, Freddie Mac reported that the average rate on a 30-year fixed rate mortgage fell to 5.1 percent on the week, this rate falling 1.3 percent from late October, and the lowest 30 year fixed mortgage rate since 197 when record began.

As we enter 2009 mortgage rates are expected to fall even lower, so depending on how risk adverse you are will depend if you borrow now or gamble and see if they drop any lower.

Source: msnbcThe Omen dvd

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