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May could begin home buying spree

 

The real estate market could use some good news and the month of May could be the catalyst for a rebound.

 

This month could be the beginning of the end of the housing crisis that has crippled the real estate market. There are a number of key components to this possibility. The start of the summer home buying season is going to be a big boost to the psyche of both buyers and sellers. This month, home owners looking for properties over $417,000 can begin to qualify for jumbo loans that are eligible for sale to Fannie Mae and Freddie Mac. These loan will have much more favorable loan rates and are certain to be a boost to the  upper end market. The stock market has rallied and crossed the 13,000 point threshold again and corporate earnings have been better than expected so far this year. Long term fixed rate mortgages remain near six percent and provide great affordability for home owners looking to purchase. The economic stimulus package will be filling the economy with millions of dollars and some individuals may use this towards the down payment of their first home. The month of May is also likely to see the government unveil some home buying incentives that could further spark the real estate recovery. If the real estate market is going to stage a rally, the month of May has a number of great components to rally around and begin the recovery process.

5-2-2008 ? LoanNetwork.com

 

 

 

 

may real estate market @ loannetwork.com

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