February 2010

Found 1 blog entry for February 2010.

img_1020_2592The answer to both questions at least in the Lexington area are YES!!!  Unfortunately, the news sometimes makes you think that banks are not lending money and if they do lend money it is at exorbitant rates.  Nothing could be further from the truth.  Rates are at historic lows.  Our local banks are just begging to lend money- lending money is how our local banks stay in business.  The near term outlook for rates should make every potential buyer who is going to borrow money in order to purchase a home or farm to buy now.  There is a fair risk that rates could rise after March 31, 2010.  Keep in mind a mere 1%  rise in rates is similar to 8% drop in purchase price.  If you are going to borrow money and you are on the fence, now is the time to buy.

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