3 Insights For Home Buyers
Staying Ahead In A Competitive Market
Buyer power is strong right now so more buyers are active in the market. Here is the current landscape at a glance:
- Mortgage Rates Are Low
It’s less expensive to borrow money for a home loan today while rates are low. This is a huge opportunity for buyers to capitalize on right now.
- Buying Is More Affordable
When paying a mortgage as opposed to paying rent, that money is reinvested back in your favor, so you’re contributing to your own net worth when you own a home. This is a term called equity, and it’s one of the biggest financial benefits of homeownership.
- Equity Is Growing
According to many leading experts, home prices are forecasted to continue appreciating this year. When home values appreciate, it’s another factor that increases your equity.
Knowing home values are increasing while mortgage rates are so low should help you feel confident that buying a home this year is advantageous from a price perspective and a strong long-term investment.