Getting a mortgage loan right now is not really a bad idea because rates have rarely ever been this low in the past.

Although one of the problems that led to the boom and bust in the housing market four or five years ago was low interest rates and the bad credit mortgage loan, it doesn’t seem like either one of these options are going away anytime soon.

Housing prices have fallen quite dramatically since 2008, but they could go a bit lower if the United States double dips into another recession.

Even when you factor in the idea that home values could go down a bit more in the coming years, it is still a good time to buy a home with bad credit.

Interest rates are at an all time low

The main thing that you need to realize when it comes to the real estate market right now is that this kind of situation is really once in a lifetime. Interest rates should be rather high right now since the United States is basically in a recession, but various factors are actually keeping them too low. Since you can still get a bad credit mortgage loan with low interest, you should try and snatch that up while you still can. You may not get another chance like this in the next 20 years, so you may as well take advantage of it right now.

Another reason that you should think about buying a house right now is that many economists are predicting that there is going to be a lot of inflation over the next ten years in the United States. This means that you will be able to get an amazing deal on your home if you stick with a fixed interest rate on your house. Financial gurus such as Peter Schiff have mentioned that it actually makes sense to buy a house right now, even if you can’t afford one. If you can get a fixed low interest rate mortgage on a home right now, you will basically be getting the house for about a quarter of the real cost right now. This is because inflation will come in the next five years and make your mortgage payments rather easy in the grand scheme of things. As your mortgage payments stay the same, you will start to earn more money at your job to keep up with inflation. Most people act like inflation is not going on right now, but anyone who buys groceries on a regular basis can see that prices are going up.

Whether you have good credit or not, you should definitely look into getting a fixed rate mortgage right now. It could turn out to be a great investment over the long term because you never know when interest rates are going to rise back up again. Looking for a mortgage loan? Check out these lenders!