My wife and are are in the process of buying a house. So today, while at the gym, I watched a segment on the FOX News Network in which the host interviewed one of the leading home sellers to get his opinions on home-buying in the current economy. Here's what I learned:
FOX Host Well, let's start from the beginning: is this a good time to be buying a house?
Some House Guy Given the current economic climate in the country, as well as the interest rates and unemployment levels, right now is --
Host -- I'm glad you brought up interest rates. Prospective buyers want to know: are they going to go up? Are they going to go down? What do you think?
Guy If you look at what Alan Greenspan said yesterday and analyse the statistical data from the last six months, it seems clear to me that, in the near future, interest rates are certainly going to go --
Host -- yes, but should people be getting fixed-rate loans or ARMs?
Guy Well, ARMs, or "adjustable-rate mortgages", and Fixed-rate loans are usually comparable, but right now it's clear that the loan you should be getting is a --
Host -- okay, okay, we're running out of time here, so tell any prospective home-buyers out there the single most important thing they should keep in mind as they go out on the market.
Guy Without a doubt the most important --
Host -- of course. Our guest has been Some House Guy. Thank you Mr. Guy.
Guy Thank --
Host This is FOX News.