Joe Wilson's Silicon Valley Real Estate Blog

For buyers who've been waiting to see how low interest rates will drop, take a look at this latest chart for 30 year fixed rate mortgages.  It appears that the steady drop in long-term interest rates has come to an end. In actuality, rates will likely begin to trend back upward as more positive economic news begins to amass.  Don't try to time the interest rate cycle if you're thinking of buying because it may take you a month or more to locate the right home to purchase and then another month to close escrow. A lot can happen with rates in 60 days!  For sellers, if you're not underwater, this may be your last, best chance to refi at a 50 year low interest rate. I recently refi'd my home at 3.75% with no points for a 15 year fixed rate loan. If you're thinking of buying or refi-ing, don't wait because these rates have nowhere to go but higher.