With all the news lately about the housing crisis, the falling dollar and the sub-prime mortgage mess you'd think this would be one of the worst times to consider taking out a mortgage to buy or build the home of your dreams. In reality, this is one of the best times in years to be able to take advantage of lower home prices and the falling cost of construction materials as the housing market cools. Wise home owners, and future home owners, should take this opportunity to get the house they always wanted at mortgage rates they can afford!



With the housing market in a slump, those who have played the waiting game may not have to wait any longer. Housing prices have fallen and those houses that were outside your price range just two short years ago may now be easily affordable. It's a buyer's market and the number of existing homes on the market means that you can have sellers compete for your mortgage dollars! In fact, savvy consumers will take advantage of such deals as seller-funded closings and seller-bought points to help shave your interest rate down every further.

Now may be one of the best times in your life to consider upgrading to a bigger house, or finally taking the plunge and buying that first home of your dreams. Mortgage rates are low and housing prices are coming down - and we all know what goes down will come back up!

Perhaps you have the itch to build the house of your dreams. Many mortgage companies are still financing new construction for homeowners because they know what the homeowners know - the sinking housing market means that many construction materials are also starting to go down in price as supply outpaces demand. For instance, the cost of concrete in some areas has fallen as much as 15% in just over two years.

Just because the housing market has slowed down doesn't mean you need to sit on the sidelines and wait until prices and rates go back up again. Those who have maintained good credit and have a decent down payment saved up will find that they can get amazing deals on housing at rates that are even more competitive than they were just a few short years ago. Mortgage lenders, faced with a slew of bad sub-prime loans, are looking for good, solid customers to build their business back up and they are competing to attract those customers to use their services.

A home is an investment that will bring your family together and give you a sense of ownership. Take advantage of low housing prices and rates now to help finally move you and your family into the home of your dreams.