If you’re in the market to buy a new home, now may be the time to do so. According to Inman News the 30- year fixed mortgage rate has reached its highest level since April 2014. (https://www.inman.com/2018/02/16/real-estate-daily-market-update-february-16-2018/)
What does this mean for buyers? You could begin to lose your buying powers, if you were pre-approved say $250,000 at an interest rate of 4%, and now it goes up to 5% you may only be good for $200,000. There’s still time to lock into a low rate and I’m not saying it’s going to continue to go up, but just like everyone else I don’t have a crystal ball and I can’t predict what’s exactly going to happen. It’s better to be proactive than reactive. Whether you’re a renter or looking to buy your second, third or fourth home. There are a ton of options as far as financing goes. You can get in a home with as little as 3% down. Contact me today and we can get the conversation started.
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