Interest Rates Drop Again!

Ok, home loan interest rates have dropped again to like 4.19% (I saw that posted in a recent Virginian-Pilot article)so why aren't homebuyers snapping up homes? In my opinion, they are not confident in the economy, their current jobs or that the real estate market is done falling in value. If I didn't already own a home and rental property I would be seriouslsy considering getting in on a 4% mortgage myself! It's a scary thought to get into a 30 year mortgage, I know. The sad part about it is, anyone who rents is already paying a mortgage, just somebody elses. Why not pay your own? Even if you only stay in that home for say 10 of those 30 years, at the end of the 10 years you have "something tangible" to sell. Unlike a renter who has nothing but a shoebox full of reciepts. For all those years you got to live like you wanted in your own space with your own rules, no landlords. If the property has not increased in value well, then you still did better than if you had rented for 10 years! Bonus: It might be possible to "sell" your mortgage interest rate as part of the sale, do you think that a 4% interest rate will be valuable to buyers 10 years from now? Or maybe you would like to let someone else pay your mortgage ... rent out that home! Home ownership offers so many benefits and solutions, if you need assitance with any matter of real estate, please contact me.