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For Buyers
Now May Be The Time to Buy: What Are You Waiting For?
The time for prospective home buyers to enter the market may be right now; here’s why:
Attractive Interest Rates
- Historically, mortgage interest rates are relatively low. According to Realty Times' March 31, 2009 "Real Estate Outlook: Sales Rising?," "Meanwhile, mortgage rates continue on their sharp downward track, hitting six-decade lows last week. Fixed rate thirty year loans plunged to an average 4.6 percent from 4.9 percent with one point, while 15-year rates sunk below four and a half percent according to the Mortgage Bankers Association."
With interest rates remaining at historic lows, this increases an individual’s purchasing power and makes the mortgage payment more manageable.
Reality Check - Now May be the Best Time To Buy (PDF)
What It Takes To Buy A Home