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Mortgage rates plunge to 2014 lows

Mortgage rates are at record lows.
Mortgage rates are at record lows.
Photo by Justin Sullivan/Getty Images

After years of a down economy and slow sales in the real estate market, home prices are showing double-digit gains in every month since April, 2013. The bottom of the real estate market has ended.

Interest rates at historical lows
Currently interest rates are at about 4.6 percent, lower than they were two years ago and far lower than their long-term average of 8 percent.

According to Mark Dotzour, chief economist at Texas A&M Real Estate Center, “In the history of America, a 30-year mortgage at less than 5 percent is a gift.”

The Mortgage Bankers Association predicts interest rates will remain near current levels through the end of 2014.

Aries (March 21 – April 20): Loves the fixer-upper, it gives them the perfect opportunity to do-it-them-selves. They prefer a house that is an empty shell, so it can be torn and rebuilt brick-by-brick into their ideal home. Arians love functional buildings like lofts, old studios, warehouses, and industrial units and enjoy transforming them into homes that satisfy their need for space.

Taurus (April 21 – May 21): Always thinking value, love a home that is well designed, because this increases the value of the home. Meticulous in home maintenance, a Taurus views their home as an investment. An up-scale housing development is a good choice.

Gemini (May 22 – June 21): Are not concerned how their home looks and can adapt easily to any style. They crave variety, they may move often. Two characteristics Gemini’s value most in a home, are light and air. Large windows, panoramic views, windows must be able to open, the wider the better. A Gemini likes a large home with lots of small rooms.

Cancer (June 22 – July 23): Will choose a ready-built home rather than having one specially designed. Conventional homes, with traditional standards, make them feel safe and secure. Their ideal home is one built in the early 1900’s, with oriole windows and lots of nooks and crannies. The kitchen is the hub of a Cancer home.

Leo (July 24 – August 23): Loves to live in a large palace, but a small palace will suffice if it has style and charm. Long driveways, enclosed by high fences, grand flight of steps leading to the front door, complete the picture. Leo is also content with a smart older town house or a fashionably designed new one.

Virgo (August 24 – September 23): Simplicity is the key for a Virgo home. They do not look for their home to conform to the latest trends, just good quality. Insulation is a must, as Virgo’s are careful with resources and the environment. Furnishings are of natural materials that are eco friendly.

Libra (September 24 – October 23): Enjoy many different styles. They shy away from anything weird or homes that have lots of protrusions or recesses. A Libran home must be harmonious and woodwork painted and not too conspicuous. Their interior decorated in a monochromatic style.

Scorpio (October 24 – November 22): A must have is a large cellar or basement where they can retreat in solitude. A home built on a slope is perfect. They prefer older homes, for the atmosphere, and for the hidden nooks and crannies. A slightly dilapidated home has a magical appeal for those born under the sign of Scorpio.

Sagittarius (November 23 – December 21): Loves homes that are spacious, or give the feeling of space. They like to live on the top floor or on a hill. Loves big windows, skylights, verandas and fanlights. The sometimes live in new developments although a palatial dwelling is favored.

Capricorn (December 22 – January 20): Likes a home that is efficient, almost chilly atmosphere, which makes them choose long-lasting materials and go high-tech. Angular architecture and symmetry is popular with Capricorns. Efficiency and a well run home is a must.

Aquarius (January 21 – February 19): Home buying for an Aquarius is like looking for a needle in a haystack. Most homes will be too ordinary. An Aquarius who is interested in the past will choose a really old home that is permeated with history. Restoration and maintaining the original features of a home is a must. The more daring Aquarians will choose distinctly modern architecturally designed home with futuristic, high-tech gadgets.

Pisces (February 20 – March 20): Being sensitive, they tend to fall in love with old homes with a history. Not being materialistic they need to be careful that their home does not fall into disrepair. To a Pisces a little dilapidation is picturesque and adds character. They love colorful homes with imaginative exteriors.

Now is the time to purchase your new home before the market tops in 2020.