From The Desk Of Laura Wheeler

If you’ve been waiting on the fence to buy a new home, now could be the time to get off that fence and into your new home.

The Federal Reserve has announced that it will spend $600 billion to buy up mortgage-backed securities, giving banks the needed cash flow to start lending again.

Along with yet another rate drop of nearly 1 percent buyers could now be in a great position to buy a home that comes with an affordable monthly payment with a 30 year fixed rate loan.

If you need to refinance your home loan, now could also be your time. Because of the rate drop, this could put your home loan into a better 30 year fixed rate, making your monthly payment more manageable.

Do your homework! When talking to your lender about qualifying to purchase a home, be sure to ask about the Federal Tax-Credit loan being offered through July. For prospective first-time buyers, this could mean an extra $7,500 going towards the purchase.