If you have been on the fence about buying a home, now is the time to buy! Mortgage rates are jumping, delivering a one-two punch to potential buyers already dealing with home prices that have risen sharply over the past few years.
Mortgage giant Freddie Mac on Friday reported that the rate for 30-year fixed mortgages has hit a seven-year high — and experts expect home-loan rates to continue rising. Interest rates tend to increase in response to inflation, which is picking up steam for the first time in decades.
Whether you are a move-up buyer or first-time buyer, waiting to purchase your next home based on the belief that prices will fall because of rising mortgage rates makes no sense.
It may actually be a good time for you to purchase your new home sooner rather than later. We do not see any reason for rates to stop climbing and the cost to wait may be bigger than you may think. You should also know that mortgage interest rates are still relatively low when you consider what they’ve been over the last 20–30 years.
With interest rates on the rise, you might be considering buying sooner than later. If you’re searching on the most popular house hunting apps, you could potentially be wasting up to 47% of your time since their data is dated. Visit our website at www.RomanskiGroup.com for up to date property information to begin your home buying journey!
For up-to-date information on YOUR Indiana area neighborhood or a FREE Seller Consultation – call The Romanski Group at (765) 293.9100. Using an experienced team is the way to get your home SOLD! You deserve the BEST Realtor in the Lafayette Indiana area! Learn more about our Guaranteed Home Sale Program!
The Romanski Group of Keller Williams Realty | Your Lafayette, Indiana Real Estate Solution