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Updated: 1:14 PM Feb 15, 2010
Renting vs. Buying in Grayson County
Sherman, TX--Mark Tooley with Virginia Cook realtors says right now it's a buyer’s market and a great time for first time buyers. Tooley says he expects those low interest rates for loans to begin creeping back up as the year goes on.
Tooley says right now the current interest rate for mortgage loans is 5%. He says some figures show it could be up to 8 percent by the end of this year.
Posted: 12:10 PM Feb 15, 2010Reporter: Daniel Armbruster Email Address: Daniel.armbruster@kxii.com |
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Sherman, TX--Mark Tooley with Virginia Cook realtors says right now it's a buyer’s market and a great time for first time buyers. Tooley says he expects those low interest rates for loans to begin creeping back up as the year goes on.
Tooley says right now the current interest rate for mortgage loans is 5%. He says some figures show it could be up to 8 percent by the end of this year.
Now, earlier this year it was announced that Grayson County is second in the state when it comes to the affordability of buying a home. Along with the current incentives for buyers, like a large supply of homes for sale and the federal tax credits for first time buyers, which have been extended to April 30th, Tooley says if you're renting now may be the time to look to buy.
If you have questions, you can reach Tooley by calling 903-814-2519 or by email, mtooley@virginiacook.com.
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