New York Times: "Golden Age for First Time Homebuyers"

Last week, we shared with you that interest rates had plummeted to an average of about 5.5%, a rate that will save new homebuyers hundreds of dollars in monthly interest payments, and help them build equity more quickly in their homes.

What we didn't say is that NCHAMP, a special financing mortgage product that is available from National City Bank on select new construction properties, is now at 3.875%. Key Bank offers a similar mortgage product, discounted by 1.5%, on other new construction properties.

This means that buyers that purchase at Rockport Square in Lakewood, Stonebridge Plaza in the Flats, or Fries and Schuele in Ohio City, to cite a few examples, will benefit from an interest rate saving them literally tens of thousands of dollars over the life of the loan. These savings are on top of already attractive pricing options.

As a recent article in the New York Times stated: "Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers."

It may be a good time to think about buying a house.