OMG...I've received several e mails this morning from lenders indicating an impressive drop in mortgage rates today. The Fed made a announcement this morning that is directly HELPING BUYERS!

Interest Rates in the LOW 5's!!

I'm sure you all are thinking about Thanksgiving Dinner...but if you are a home buyer or home seller this is the best news we've heard in weeks!

I certainly will digest my T Day dinner much easier knowing rates are in the low 5% range. What exactly does this mean? Well, if you were to purchase a $200,000 home your principal and interest on a 30 year fixed loan at 6% would be $1,199.10 - at 5.25% your principal and interest on a 30 year fixed loan would be $1,104.41... a difference of $94.69 per month! This is assuming no downpayment. CLICK HERE and scroll down to calculate your payment by inputting your downpayment.

Ummm, I guess I'll say it again...the timing could not be better. Go Buy A Home.