Because of the drop in housing prices and the interest rates still being low, now is a super-great time to buy! I know many have waited for more signs that the market has “bottomed out”, but will you be risking more money in the long run?
I’ve heard it projected that housing prices may continue to fall over the next year, but interest rates are also projected to be rising this year. Over the life of a 30-year loan, you need to weigh the benefits of going ahead and purchasing your home now at the lower rates rather than waiting for a possible “bottoming out” of the housing prices.
There are some terrific deals on the market right now that you could take advantage of. Make sure you are staying on top of the real estate market as well as the mortgage market as you consider the purchase of your first home! Your dream of home-ownership may be closer than you think!
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