On the heels of lowered credit rating, I predicted a slight rise in interest rates.  I was wrong… the rates are out and they are lower!  10 year is 3.375% and 30 year is 4.25%.   Making the APR for 10 year fixed mortgage 3.86% and for a 30 fixed 4.45%.  

(APR example  based on $100,000 loan amount with 20% down payment. Loans with lower down payments require private mortgage insurance (PMI), which will affect the APR.)

Combine this with plenty of inventory, attractive prices, and motivated sellers….  buyers: come out, come out wherever you are!  Not sure what buyers are waiting for.  In the Ithaca area, housing prices certainly aren’t going any lower. 

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• Homeowners race to refinance as mortgage rates plunge (seattletimes.nwsource.com)