In this declining market of mortgage interest rates, it is very important to keep a close eye on where the markets are heading. Interest rates change daily and lately they have been changing multiple times per day. The national average for mortgage rates are below 6%. This is awesome! Whether you are that buyer who is sitting on the fence waiting (which I don’t recommend) or looking to refinance, now may be the time. How can you fathom that there will be a better time in the future to buy a home? The markets can only go up and many of them already are. Agents, if you have clients on the fence, now is the time to hit them with the facts and the possibilities.

We have hit rock bottom a while ago in my opinion. If you take out Florida, Nevada, and California out of the picture, the real estate market really never really looked that bad. I am seriously thinking about refinancing some of my property and I am currently keeping a close eye on mortgage rates. I use bankrate.com to track interest rates. Click here to use a great tool by Bankrate to check rates anywhere in the country.

The coolest feature allows you to set up an email alert when the rates hit your target level. This means that you do not have to worry about looking on the internet everyday trying to track rates. This site seems to have the rates from the largest of lenders. This is a great tool for agents who (1) want an excuse to contact some leads that have been on the fence and (2) to have great info to provide in emails, calls and mailings to current leads in your pipeline.

I will let you know how I make out in my quest to lower the amount of interest that I am paying.