I usually use this blog as a laid back portion of the site to talk about entertainment and fun things in our area as well as current events for the area but today I thought I would give an interest rate update as I had several lenders email me yesterday.

I am getting reports of a drop in rates with conforming 30 year fixed rates in the 5.75% range. I think this is awesome and may begin the road back to an upswing in home sales.

To me it is a great time to be a buyer as sellers are willing to give lots of concessions and buyers can get rates in the 5.75 % range. I think people will look back and say WOW! 2007 was a great time to buy a house!