When buying a home, avoid these six lousy habits.Looking to buy a home? Search all homes.Looking to sell a home? Get a FREE home value report.If you plan on buying a home in 2018, there
Move Up To Your Dream Home Now
Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates have stayed near historic lows.
Sellers should realize that waiting to make the move when mortgage rates are projected to increase probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs.
Here is a chart detailing this point:
According to Freddie Mac, the current 30-year fixed rate is currently around 3.75%.With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, by $10,000).
Freddie Mac predicts that mortgage rates will be closer to 4.7% by this time next year.
Act now to get the most house for your hard-earned money.
Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....
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Looking to buy a home? Search all homes.Looking to sell a home? Get a FREE home value report.As a first-time homebuyer, there are eight ways you can set yourself ahead during your home