Not only does the Secretary of Housing and Urban Development believe that it’s “very unlikely” that there will be any more significant drops in housing prices, he also told CNN on Sunday that the recovery in housing prices could begin as early as the end of the summer.
Additionally, Secretary Shaun Donovan noted that home sales have increased over six of the past nine months, and that the number of homeowners in default is declining, suggesting that the popping of the bubble has bottomed out.
“In the long run, it’s a good time to become a homeowner because it’s so affordable today, compared to where it’s been for generations,” said Donovan.
He’s right, and nothing’s more affordable than Newport Cove’s 10-yer hybrid ARM loan, with the first two years locked in at a ridiculous 2.5 percent interest, and the next eight locked in at under 4.5 percent interest. There’s no better time to take advantage of ultra-low mortgage rates. Make sure you’ve put yours into writing before it’s too late.