Are you thinking about buying a new home? Whether you’re a first-time homebuyer or planning to move up to a larger home, now is a great time to buy.

According to the Fannie Mae National Housing Survey released in September, 70% of Americans think it’s a good time to buy, compared with 64% in a similar survey conducted in January 2010.

Here are some reasons why:

• Low interest rates. Mortgage interest rates are at very favorable levels. According to Freddie Mac, the 30-year fixed-rate mortgage rate hit an all-time low in early October—the lowest in the 40 years that Freddie Mac has been tracking rates–as did the 15-year fixed-rate and 5-year ARM. The 30-year fixed-rate mortgage averaged 4.27% for the week ending Oct. 7, while the 15-year and 5-year ARM were 3.72% and 3.47%, respectively. By purchasing now, you’ll lock in a low interest rate that will benefit you for the term of your loan.
• Houses are priced right. One positive result of the housing downturn is that prices are more affordable in many markets—particularly areas that experienced huge upswings in prices previously. Still, as the economy recovers, prices are beginning to stabilize, and in some areas, even tick up a bit. According to the National Association of Realtors, the national median existing-home price for all housing types was $178,600 in August (the latest month for which data is now available), up 0.8% from August 2009. Why not purchase now in case prices continue their upswing?
• Great selection. There are plenty of available homes on the market today, whether you prefer an existing home or a new one. Since inventory is plentiful, that means there are more opportunities for you to find the home of your dreams.

How to Save Energy By Winterizing Your Home

Now that the weather is cooling off, have you noticed drafts in your home? Well, those drafts aren’t just annoying–they could be costing you money by raising your home energy bills. In fact, according to the U.S. Department of Energy, drafts can waste 5% to 30% of the energy you use.

Here are some ways to reduce energy use this season:

• Seal cracks and other openings. Consider hiring a qualified technician to conduct an energy audit—particularly a blower door test—to detect air leaks. (Your power company may do this for free.) Inspect places in the home where different materials meet, such as brick and wood, as well as door and window frames, electrical outlets and water lines, for gaps that could lead to leaks. Then seal with caulk or weatherstripping.
• Add insulation. An energy audit will tell you if you need more. The good news: You may qualify for a tax credit.
• Change furnace filters once a month. Dirty filters restrict airflow and increase your need for energy.
• Run ceiling fans in reverse to make rooms warmer.
• Install storm doors and windows to improve energy efficiency.
• Tune-up your heating system. By making it run more efficiently, you will save money.