An "Excellent Time to Buy," Especially with Good Credit

USA Today
Christine Dugas and Sandra Block

The credit crunch has turned into a buyer's market for consumers who have solid credit and the funds to contribute to a down payment. The average 30-year fixed mortgage rate fell to 6.52 percent last week, its lowest level in three months, as a result of declining yields for Treasury securities and the downturn in the housing market; and rates on adjustable mortgages are also down. Moreover...jumbo loans are still available thanks to community and national banks...conditions that improve the landscape for home buyers. "If you want to move up to a bigger house or buy a home for the first time, and you have the credit and qualifications to do so, it's an excellent time to buy."