Low Interest Rates, Low Housing Prices and Lower Down Payments

The home buying stars have aligned, and they’re telling you to take advantage.
1. Mortgage interest rates have dropped to the lowest they’ve been in 50 years. With mortgage rates at historic lows, the number of people applying for mortgages has hit near record highs. (If you've never been one to jump on the bandwagon, now's a good time to start.)
2. Low housing prices. This isn't "new" news by any means, but it's an important part of the equation (which equals 'perfect time to buy a home'). Housing values have fallen steadily over the past two years and in turn, so have their sale prices.
3. Low down payments are available on FHA loans. FHA loans (safe, government-backed loans) let you purchase a home with 3.5% down. Let's consider this: If you're buying a $200,000 home, your down payment (not including closing costs, taxes, etc.) is only around $7,000. That's a goal that doesn't seem quite as far out of reach. Click here for the entire article.