The interest rate topic has been of constant discussion for some months now. Though interest rates still lower than previous years( aka 12% days), the thought of not having the UNDER 5% had home buyers unnerved; just a bit.
But recently the Federal Reserve voted to leave the interest rates alone for now. They being patient with their approach.
“Home buyers are very sensitive to changing interest rates and will likely respond positively if mortgage rates remain below 5 percent,” says Sam Khater, Freddie Mac’s chief economist.
With a number of changes that have been taking place in recent months, being patient with adjustments in interest rates may allow more homebuyers to move forward with their home buying goals in such a way that they can enter into that stage of life more confidently.
With the updated loan limits and down payment assistance programs still available, home buying is achievable for potential homebuyers. Are you ready to start the process?
The process for pre-qualification is should not be scary nor assumed as not attainable. This is an opportunity to obtain loads of valuable information, tips, and confidence in how to purchase a home successfully.
Think of all the benefits of owning a home as opposed to renting. The money savings alone is a huge benefit. Also, the equity from buying smart will make homeownership worth the investment.
Lets set up a time to discuss your options. You can also request your lender or one of my preferred lenders to be present to have both the real estate and finance questions answered.
Freddie Mac and “Federal Reserve leaves rates unchanged, stresses patience,” HousingWire (Jan. 30, 2019)