As I sit here in front of my computer on a slightly chilly Winter day in Nashville, I look around to take in the beauty of my home---my lopsided Christmas tree with all it’s lights aglow, my puppy playing sport with his favorite chew toy, the leaves scattered across the front yard, and the steaming cup of hot chocolate that sits next to me. I am thankful just to be here this year, and I am thankful that my real estate business is flourishing in spite of what’s going on with the economy. 

We’ve all had to sit back and take stock of our lives since the tragedy of September 11th. I think the holidays this year will be filled with much more gratitude for the simpler things. I am amazed that, even though we are supposedly in a “recession”, homebuyers and sellers are coming out of the woodwork! This is the busiest I have been all year, and it makes me wonder what really is going on in the minds of Americans! 

With interest rates so low right now, stepping out and buying a home may be a wise decision for you. You may feel in your heart that you just need to wait awhile, and that’s all right too. Additionally, you’re probably aware that this can be an excellent time to refinance your mortgage. However, just because rates are low doesn’t necessarily mean it makes sense for you. Jenny Clough at Pulte Mortgage gives us some things to consider when contemplating refinancing:

Mortgage balance: the higher your balance, the more you could save! A $250,000 loan balance with a 30 yesr term at 8.0% costs $1834 per month, while at 6.5% it is only $1580. However, an $80,000 loan, at the same rates, will cost $587 and $505 respectively.