It is the right time to buy.
After some harrowing years in the housing market, things are very fluid. It is perhaps the best time in the last 7 years to buy a home or refinance an existing loan. Don’t let it pass you by, here are some reasons why.
- Foreclosures down – neighborhoods are able to make gains on their own merit in most areas, not hindered by a defaulted loan or multiple loans.
- Interest rates in a great place – for now. Practically no one believes they will stay this low. In historical standards these rates are fantastic, and you may not see them in 2016.
- Home values on the rise – and going to keep rising for a while in many areas. This means you can wake up and your home have paid you to live there by going up in value. Many areas this way currently.
- Lenders loosening the standards – due to the three items above, lenders are empowered. They see a reason to put money in housing without fear of default, and they know interest rates are rising.