The time to buy is always now

As interest rates rose again this last week with the yield curve steepened to the biggest spread in something like 40 years with the 10-year bond paying 3.93% and the sixmonth T-Bill popping over 5%, I was wondering what the heck I should write about today.

My first thought is to remind people who are sitting on tons of cash in the bank to make sure they move their low-rate savings accounts into higher yielding accounts. My second thought is to encourage all the homebuyers to talk to some older people who purchased homes 25 to 50 years ago and ask them if they regret buying their home.

I moved to Solano County in 1989 with my wife and four little kids from San Francisco and

Jim Porter

had to learn all about first-time homebuyers and payment shock.

First-time homebuyers were leaving the City and San Mateo County and moving to places like Concord, Fairfield and Petaluma for housing affordability. As a loan officer, from 1985 to 1989, all my loans in the Bay Area were 20% down and because fixed rates were over 10%, adjustable-rate loans were popular. With four little kids

See Porter, Page 10

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