Congress passed and the President signed the historic financial bailout package last week that is supposed to avert a complete meltdown of our economic system. It’s Monday morning now and the Dow Jones Industrials are down almost 500 points, dropping below 10,000 and the Federal Reserve is expected to auction $900 billion to banks to ease short term lending needs in the market.
The upside today are that rates on a 30-year fixed conventional mortgage loan have gone as low as 5.625%. We got out of the fortune-telling business but now is a great time to start working with a mortgage counselor to get yourself positioned to take advantage of a low interest rate when you find your next home.
Get your ducks in a row today! Contact us for a mortgage counselor and lender referral at Info@TheShulerGroup.com.
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