Should I Buy Now or Wait Until Next Year
As Real Estate Brokers, we often hear people say “We’re going to wait a year to see if we can afford more of a home, or We’re going to wait to see if the interest rates go down.” For some people it makes sense to wait, but for most people now may be the best time to buy a home. Interest rates are currently low for a 30 year fixed rate conventional mortgage, but they are projected to go up in 2017. Also current home prices are lower but are steadily rising and by this time next year will be nearly 5.5% higher. So if you have been considering buying your first home or a different home, now is a great time to buy, but act fast as you will be paying more if you wait too long!