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eMail: jon@modene.com

Perrysburg Blog

Inflation? What Inflation?

April 10th, 2009 . by Jon Modene

There is no inflation.

Now.

There is the threat of DEFLATION.

And the powers that be want to “goose” the economy as any person awake knows.

So what?

Just a thought – interest rates are very, very low right now.  In fact the 30 year fixed rate a week ago was the lowest ever recorded according to the MBA.

I send out a “Buyer Intelligence” newsletter every Friday (just email me if you want to get on the list . . . jon@modene.com)

And I quote the current interest rates in a variety of programs each week.

I have NEVER seen them this low.  Never.

National averages here:
key-rates1

Here are Northwest Ohio’s LOCAL INTEREST RATES:

Conventional:  4.875% with 0 points.
FHA:  5.5% with 1/2 point.
VA: 5/5% with 1/2 point.
OFA (State of Ohio $$): 6% with 0 points (grant cost paid by seller).

How long will these rates last?

Will they go lower?

Will inflation decimate them next year?

I have no idea.  As someone said – “That’s above my paygrade”.

But I do know this – they are a great bargain for anyone borrowing to buy real property today.

Posted in Jon Modene in Perrysburg Ohio Real Estate, Perrysburg, Perrysburg Ohio • No Comments Posted Yet »
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