It seems like I have been saying this for years but now would be a fantastic time to buy a property.  As interest rates drop the payment on the mortgage falls.  What is surprising is how much.  Say you have a $300,000 mortgage at 6% right now.  6% used to be a great rate.  Anyway, right now for the same amount of monthly payment you can purchase a home with a $375,000 mortgage.  That is $75,000 of free money!  The effects can even be more dramatic if you have been in your home and have accumulated some equity.  I am working with a buyer now who is purchasing a home $150,000 greater than their old home and their payment will be virtually the same.  Did I say this is a great time to buy?

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