According to the National Association of Realtors, February existing home sales climbed 5.1% from January and construction starts also went up from a month before. A much welcomed boost in activity following stimulus initiatives to jumpstart the housing market.
As home sales increase, prices stabilize and that fabled “bottom of the market” is in the rearview mirror before we know it. The problem is it’s easy to focus on price, when interest rates can be what save you more money in the end.
Lock in now with a mortgage banker and you’ll benefit from historic low rates for life. When rates start edging back up, you’re safe. If they drop further, your lender does everything in their power to get you that better rate.
You can see how mortgage rates impact your monthly payments with our online mortgage calculator. Try some scenarios with different home prices and mortgage rates to see how they compare.
Contact a Dream Town consultant to help you assess the advantage of buying with record-low mortgage rates.