The sun is shining and rates are low – can you say 3.625% – wowza!! Most of the conversations in the mortgage world this week has surrounded FHA lowering their MI calculations and the streamline refi craze that will occur. But, what this means for the purchase market is that borrowers with less money, but solid income and good credit can look at buying more expensive homes. With the high rent prices, low rates and moderate price growth in the real estate market, more young or first time home buyers should be JUMPING into the market.

I am more than happy to do a BorrowSmart analysis for them, showing the after tax value of owning a home!!! Also, I have spoken with a few buyers this week who are planning to use their tax refunds to provide funds to purchase a home. It’s probably one of the better investments they could make!!!