More good news for buyers
Now is a great time to be in the market for a new home, especially if you don’t have to sell an existing house first.
Sure, it’s a lousy time to be a seller — no matter what real estate agents say. But if you’re buying a home? Congratulations, you’ve picked a perfect time.
You probably know the reasons: Housing prices are stagnant or dropping in many, many markets across the country. Sellers are willing to negotiate on everything from prices to repairs to closing dates. There is an overabundance of homes to choose from on the market.
And now, mortgage interest rates are dropping yet again. According to Freddie Mac, interest rates on 30-year fixed-rate mortgages stood at 5.78 percent during the week ended Sept. 18. That’s a dip from 5.93 percent the previous week. It’s also the lowest the 30-year mortgage-interest rate has been in seven months. The interest rate on 15-year fixed-rate mortgages dropped to 5.35 percent from 5.54 percent during the same week.
So maybe it’s time to make your local real estate agent happy: Go buy a house. It’s a great time to do it.
Tags: fixed-rate mortgages, Freddie-Mac, mortgage-interest-ratesRelated Stories
POSTED IN: Buying a Property, Educational Tools, Insights and Commentaries, Mortgage, Real Estate Tools, Road to Profits, Selling a Property
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