Low interest rates and a solid economy mean opportunities for homebuyers!
There is currently a rare combination of historically low interest rates and a solid outlook for the US economy which in the short term means that prospective homebuyers have a significantly better opportunity to own the home of their dreams. This is what the experts are saying:
On Low Interest Rates – David Seiders, Chief Economist for the National Association of Home Builders, expects interest rates on 30-year mortgages to average about 6.5 percent for the near term. Seiders points out that long-term interest rates have been “performing beautifully” since mid-year.*Home Sales are at a Slower, but Steady Pace – Seiders also points out that new home sales are “right in line with where we were in 2003, which was a record year for housing,” and that with energy costs retreating and the national economy moving ahead, it’s “…a very good time to buy a home.”*Fundamentals Forecast a Stable Market – Jim Glassman, Managing Director for JPMorgan Chase, says that the current housing market “could bottom out faster than you see in the numbers.” A robust global economy, moderating energy prices and low interest rates are among the “safety nets” for housing during the adjustment period, he said.*In short, now is a great time to buy! If you’re considering buying a home, I look forward to helping you meet your real estate needs. Please recommend me to anyone you know who may be looking to buy or sell a home.