The rents are increasing and the home inventory is still low so that potential buyers have to be prepared meeting a hard competition in their home hunt. However, on the bright side the mortgage interest rates are still low and it is much easier to get a mortgage for your dream homes because the lenders' requirements are less stringent.
competition for buyers may even get worse because some homeowners who thought
about moving to a new home reconsider their financial situation and may stay a
little bit longer in their today’s home. On the other hand the interests rates
may also rise in the next few month as already communicate months ago, even
when the increase will be very moderate so that the recovery will not be
the interest rate increase it is for the lender more profitable to loan
money so that the availability of the money will grow too.
For FHA borrower there
is also good news. The credit insurance premium for a mortgage of 95
% of the home value is decreasing from 1.35 % annually to 0.85 % and that will
help these borrowers in realizing their home dream.
want to know more about the actual market trends? Contact us at email@example.com.
In Real Estate we are always on your side