Notes and Opinions from one of Arizona's Most Trusted Loan Teams

Our company has been in business for 25 years and we have never seen a time that was more turbulent or just plain scarier than 2008.

On the last day of this year, we wanted to pass along some good news. There is no doubt that the real estate and financial markets are still a long way from being "happy". However, there are some bright spots that you don't often hear in the mainstream media.

If you currently own a home, you can possibly refinance to some of the lowest rates in the last 35 to 50 years. Obviously, your equity is an issue. If you bought your home before 2005, there's a good chance your equity position is fine. If you made a 20% or 30% down payment, your equity is probably good. You need to call us to see what's available. As of this writing, well-qualified borrowers are looking at 30 year fixed rates in the 4.5% to 5.25% range. Unbelievable, but true!

If you are buying a home, not only are rates very low, but prices on homes in Arizona have tumbled back to about their pre-boom levels of 2003 or so. If you have a decent job and good credit, now would be a great time to become a homeowner. The combination of low prices and low rates make this a perfect "buyer's market".

In either case, make your New Year's resolution to look into these truly great opportunities and call us today.