Mortgage rates are lowest in history according to CNN.com. I've been showing homes in the Phoenix metro area for $50k, and they are pretty nice homes. OK, so they aren't on Camelback Mountain but they are very livable and the neighborhood's are pretty nice. There are even some good deals out there for condos in Central Phoenix along the Light Rail. If you have a credit score of over 640 you can get a mortgage. But be careful, lenders aren't lending less than $50k.
Here's the whole story at http://money.cnn.com/2009/04/16/real_estate/weekly_mortgage_rates/index.htm?postversion=2009041613
This is great info to know.
Posted by: Tanya | April 22, 2009 at 08:45 AM