Thursday, 18 July 2013
But fears of market volatility and uncertain futures may be hindering your search, preventing you from taking the next step. Considering our economy's last 5 years, no one would blame you. The question, though, is when?
When will you know the time is right? With the endless barrage of available information, pro & con, positive & negative, red & blue; how do you cut through the noise, make an informed decision and step toward your goals for homeownership?
That next step is finding an informed and trusted professional to help your search along.
Though mortgage rates have risen over the past weeks, they are still quite low by historic standards, and buying remains cheaper than renting as long as rates are below 10.5%. At 4.26%, the current 30-year fixed rate according to Market Watch, buying is now 45% cheaper than renting. Even at 5%, buying is still 34% cheaper, and there's no indication of a drastic increase approaching.
Instead, we're seeing inventory beginning to swell after last year's drought, with sellers enticed by the promise of higher returns and dwindling negative equity. Hopefully this will bring some regulation to the spike in prices since last year (28% year-over-year in June), though prices will continue to rise steadily...
...which makes NOW the perfect time to enter, or re-enter, a market that is gaining steam but remains affordable to first-time buyers. Lock in your low rate, find your right home in our expanding pool of inventory, and invest in your dreams for homeownership!
The first step is just a phone call (or email, or text, or tweet) away...