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As I am sure you know the homebuyer tax credit is gone.  But do not fear, now is even a better time to buy a home.   Below is part of an article from the Ohio Association of Realtors:

"Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do.

Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting until May.

At April's average rate of 5.34%, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,561.82.

The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625% in May and paid $1,439.59 per month. That's a $1,467 annual savings. Over 30 years, it's a $44,003 savings, dwarfing the tax credit."

What this article does not tell you is that rates are even lower today.  You can get a 30 year mortgage with a rate as low as 4.25% or a 15 year mortgage as low as 3.875%.  Low Rates are just one reason to buy a home now.  The other is the amount of foreclosures that have flooded the housing Market lately.  Yahoo.com reported that there will be more then one million foreclosures this year.  With there being less home buyers now then before the tax credit deadline, it makes this a true buyers market.   

If you are thinking of staying in your home and want to lower your monthly mortgage payment the rates are just as low for refinancing.  Call me today if you are thinking of buying or refinancing.