I guess Realtors will say anything right to get you to work with them.  They'll say, "Interest rates are at an all time low, better lock in your rate now and buy that home."   Or, you might hear the opposite; "Interest rates are on the rise." (As you see the Realtor's hand gesture upwards towards the sky.

Well, this is close to an all time low at this point for interest rates.  Realtor Magazine reports that the average rate on a 30 year fixed rate mortgage is 6.18.  Last year at this time, it was 6.26.  Remember, that's just the average.  I know personally that Skogman Mortgage as of today is at 5.875% for a 30 year fixed rate mortgage.

Frank Nothaft, Freddie Mac's VP and Chief Economist said, "Mortgage applications for home purchases in November have remained healthy, largely because of the drop in mortgage rates and a softening in home prices in some areas."

To top it off, we have good inventory on houses in all price ranges and seller's tend to get a bit edgy this time of year, wondering if their homes will get showings and a purchase congract written on their property.  I know this is cliche to say this, but it definitely is a buyer's market.  You have lots of inventory to choose from and prices are much more negotiable to determine to final accepted price.

Should you need to look at any homes you see in the paper, on the Internet, or anywhere else, I can show you these homes.  Being a licensed Realtor in the state of Iowa, I can show you any property that is listed on our Multiple Listing Service in the entire state.  Please call me at 319-329-5988 or browse my website at www.christophersmithrealtor.com for more information.  I want to work hard to become your Cedar Rapid's Realtor.  I work for Skogman Realty, the area's premiere real estate company.  We participate in over 50% of all real estate transactions in the area.  Put Skogman Realty and Christopher Smith to work for you today!