Is now the time to buy ?? We are currently experiencing a period of the lowest interest rates in history. According to an article in Realty Times, the Federal Reserve has promised that interest rates will stay low through 2013, and no sudden increases are predicted, however this current pattern will not last.
The National Association of Realtors(r) (NAR) have forecasted that the rate will slowly increase through 2012.
Experts predict that unemployment will drop (albeit modestly), and with the population growth, this should stimulate an increase in the rate. It could be expected that “mortgage interest rates should gradually rise from recent record lows and reach 4.5 percent by the middle of 2012.”
So for Buyers, this is a great time to buy a home at a low rate! Give me a call and lets get looking!
And for Sellers, inventory is low at the moment. Your house may shine above what is currently available and the demand is certainly there for the Buyers looking.
source Realty Times