Now is the time to buy
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When to Buy a Home

Right now is a great moment for buyers in the housing market! The market is beginning to shift a bit. Some parts of the country have seen double digit price increases over the past couple of years and a correction is in the works, which affects the nationwide market.

The past year or so it’s been considered a “seller’s market” as there were not enough homes on the market to meet demand. Those numbers are changing as the number of buyers reaches parity with the number of homes for sale. Buyers don’t need to rush to put in their offers. Buyers will also find that sellers are willing to give more concessions such as money for repairs, or paying more of the closing costs, or even conceding in price more than one would expect.

Plus we are still at historically low mortgage rates. But the Fed is making noises about possible rate hikes. Even if home prices drop further in the future if this drop is combined with interest rate hikes you could end up paying more for your house over the term of your mortgage because of the higher interest rates.

Buyers, your time is now! Prices really are coming down, interest rates are still very low and sellers are motivated. I’d love to help you in your search. Let’s get out there and find your dream home!! Oh, and don’t forget to get pre-qualified for your loan.

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Judith Shaw, Jen Wilson Home Team 505-977-3792 judithshaw20@gmail.com

I am committed to serving your needs as you search for the home of your dreams. I’ll be by your side guiding you every step of the way. It’s a big decision and you deserve the very best service.

 

 

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Carol Sinor, Loan Officer (NMLS #298878) (505) 350-0412 Cell Carol.Sinor@prospectmtg.com www.myprospectmortgage.com/CSinor

Prospect Mortgage 8206 Louisiana NE, Albuquerque, NM 87113

Brexit & US Mortgage Rates
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Brexit & US Mortgage Rates

Due to Brexiit US mortgage rates are at historic lows.
Some economic experts think the effects of Britian’s exit from the European Union will only affect the U.S. economy for a short time.  Others feel the affect could endure for much longer. Alan MacEachin, Navy Federal Credit Union corporate economist, says, “There could be a massive capital flight to safety, which implies a significant inflow of funds into U.S. Treasury securities, which could drive interest rates lower in the U.S. and also boost the value of the dollar.”

With the world’s economy in a bit of chaos over Brexit, investors are seeking a safe haven for their dollars.  US Treasuries is the place they go in times like this.  While that is bad news for people counting on the yields from their US Treasuries it is great news for folks looking to get a mortgage to buy a home.
As Treasury rates fall the rates associated with financing a home fall also.   A year ago mortgage rates were 4.16%.  The day after the British voted to leave the European Union rates fell to 3.6%.   Click here to find out more.

Now is a great time to get yourself qualified and take advantage of these historic low rates on mortgages.  It is also a great time to sell your home as we have more buyers than we have homes on the market.

 

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Judith Shaw, Jen Wilson Home Team 505-977-3792 judithshaw20@gmail.com

I am committed to serving your needs as you search for the home of your dreams. I’ll be by your side guiding you every step of the way. It’s a big decision and you deserve the very best service.

 

 

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Carol Sinor, Loan Officer (NMLS #298878) (505) 350-0412 Cell Carol.Sinor@prospectmtg.com www.myprospectmortgage.com/CSinor

Prospect Mortgage 8206 Louisiana NE, Albuquerque, NM 87113

You Albuquerque Metro Real Estate Agent