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Whether you are a first time buyer or a move-up buyer, you should look at the projections housing experts are making in two major areas: home prices and mortgage rates.
PRICES
Over 100 economists, real estate experts and investment & market strategists were recently surveyed. They were asked to project where home prices were headed. The average value appreciation projected over the next twelve month period was approximately 4%.
MORTGAGE INTEREST RATES
In their last Economic & Housing Market Outlook, Freddie Mac predicted that 30 year fixed mortgage rates would be 4.8% by this time next year. As of last week, the Freddie Mac rate was 4.14%.
What does this mean to you?
If you are a first time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait to buy next year:
If you are considering a home purchase, give us a call, text or email. We would love to get you into the home of your dreams!
-Steve and Sandra
Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate
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