Interest Rates have fallen… BIG TIME!

There has been lots of talk about the economy and mortgage loans recently so I thought I would talk about it a little and also give a little food for thought regarding borrowing money for a Grand Lake home. a couple days ago we received a weekly update of mortgage rates from our friends at First National Bank in Grove, OK. We were shocked at the drop in rates out there. A 30 year fixed rate loan was 5.5% par.. meaning no points. For 1 point you could buy it down to 5.25%. On a 15year mortgage the rates were 5.375% and 5.0% respectively. Wow! They haven’t bee that low in years. Of course qualifying for a loan has become harder since the industry stopped being so loose with the lending policies but for those with good credit it is not a problem.

The food for thought regarding  the above comments is the source for getting a mortgage for a Grand Lake Home. Local Banks such as First National Bank in Grove, OK have all the same programs as the national lenders do at the same competive rates. They also usually have some creative and flexible products available which might work better for your situation. National lenders do not. This is epecially true because they are involved with the local real estate market all the time and work with the people who get things done on a regular basis. From what we have seen the transactions seem to go much smoother.

As for investing in Grand Lake real estate the following food for thought is provided. First, they aren’t making more lakefront property. The values of Grand Lake waterfront property in Oklahoma have continued to rise for years including through the most recent national real estate debacle. The central U.S was not affected like California, Florida, Las Vegas, Phoenix and others. Especially not lake homes here at Grand Lake. There is more than just the investment part of the equation. There is the lifestyle to consider with it being one of the top areas in the U.S. to retire. Then there are the family values and all the fun activities associated with a lake and resort community. Boating, fishing, golf, nature, sports and more. Take a look at the Official Grand Lake web site to learn more about the area and what it has to offer. Then come to Grand Lake… Oklahoma’s #1 playground and best kept secret.

For more information about Grand Lake OK Real Estate, please contact Dave and Debbie Wagenblatt at 918.257.8381 or email them directly at davewagenblatt@remax.net. Dave & Debbie, The Get “Grand” Results Team©, are top producing Realtors® with REMAX Executives at Grand lake, OK. To learn more about the Grand Lake area and community visit their web site www.SurfGrandLake.com

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