Is now the time to buy real estate in Tampa Bay??  Judging by today's interest rates for regular mortgages and jumbo loans at a local bank, the answer is a resounding yes.

A 30 year mortgage with no points can be had for an APR or 4.7%.  This is for a normal loan, that is less than $417,000.  For a 15 years mortgage, the rate can be as low as 4.38% with no points. 

If someone wants to go to the higher priced homes for a jumbo loan, the rates are still terrific.  A $500,000 mortgage with 20% down could be a low as 6.721 APR for a 30 year note.  For a 15 year jumbo loan with 20% down and no points, the interest rate can be as low as 6.015%.  And with points, the rates can go even lower.

These are historically low rates and can't continue forever.  Yes, this is a great time to buy real estate in the Tampa Bay area.