Why Waiting to Buy a Home Could Cost You a Small Fortune Many people are sitting on the fence trying to decide if now’s the time to buy a home. To determine if they should buy now or wait another year, they both need to ask two simple questions: >>Do I think home values will be higher a year from now? >>Do I think mortgage rates will be higher a year from now? Let’s shed some light on the answers to these questions. If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. For mortgage rates, the forecasts average out to 3.6% a year from now, a jump up from where they are now. A buyer will pay a lot more in mortgage payments each month if both of these variables increase. Let’s take a house that’s valued today at $325,000 as an example. Assuming a buyer purchases a $325,000 home this year with a 30-year fixed rate loan at 3% after... #Bgroup #Prescott #Realtor #Homes #Smart

Why Waiting to Buy a Home Could Cost You a Small Fortune Many people are sitting on the fence trying to decide if now’s the time to buy a home. To determine if they should buy now or wait another year, they both need to ask two simple questions: >>Do I think home values will be higher a year from now? >>Do I think mortgage rates will be higher a year from now? Let’s shed some light on the answers to these questions. If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. For mortgage rates, the forecasts average out to 3.6% a year from now, a jump up from where they are now. A buyer will pay a lot more in mortgage payments each month if both of these variables increase. Let’s take a house that’s valued today at $325,000 as an example. Assuming a buyer purchases a $325,000 home this year with a 30-year fixed rate loan at 3% after... #Bgroup #Prescott #Realtor #Homes #Smart - 928-227-8575
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