Ledyard and Gales Ferry home buyers should continue to benefit from the real estate market and the mortgage market. The tax credit may be behind us but the mortgage rates hitting 40-50 year lows are acting as a catalyst for the market. Most first time homebuyers coming out of apartments in the area are realizing that they can buy a home and have a mortgage payment that is less per month than they are paying their landlord for rent.
No one knows how long the rates will be this low and don't believe anyone who tells you that they know when the rates will move back up. After all, most renowned economists had predicted rates of 6% for 30 year fixed rate mortgage by now. As of Friday, we at McCue Mortgage, enjoyed offering every mortgage program with rates of lower than 5% for a 30 year fixed rate. In fact CHFA (www.chfa.org), for first time buyers in Ledyard and Gales Ferry, is at 4.125% with 1 point. If you served in the military or are still in the military, the CHFA rate is discounted to 4% with 1 point.
I hope to speak to you soon.
Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil. You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.
Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.
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