Probably you heard many people talking about subprime mortgage crisis recently. The bursting of the US housing bubble, thousands of unpaid home loans, huge loses for banks and other financial institutions around the world and reduced lending activity – this is what we have today. But you know what? I don’t think it’s very bad for everyone. I’m thinking about home loan, and this financial crisis is just perfect for me!
So why it’s good for people looking for a home loan? First of all – lower interest rates. And you know what it means, right? Lower payments to bank. Much lower! I believe we almost have reached the bottom of interest rates already. Another thing to consider – home pricing. Houses are cheap as never at the moment. OK, some experts will claim that prices can become a little bit lower yet, and I agree. But even current prices look attractive (at least for me), don’t they? And third (most important thing) – this crisis will not continue forever. It means interest rates and house prices will go higher and higher again in the future.
That’s why I believe it’s perfect time to look for home loans now. I really don’t mean “today”, but I started already. I’m not going to apply for a loan today or tomorrow, but time is coming… So I just look around trying to get the best deals possible, and waiting for a little bit better pricing. Why? Just want to be sure I will not miss my opportunity, because too long waiting never brings good results for anyone… And home loan isn’t a thing I would like to risk about. It’s almost time to act!