02/27/2020
Good news
Recent reports show home prices are still on the rise. Paired with rates bumping against their lowest levels in four years, we're seeing vast opportunities, whether you already own or are looking to buy.
First, the background.
The Federal Housing Finance Authority recently reported that 2019 home prices were up 5.1% year-over-year. At the same time, primarily due to stock market concerns about the coronavirus, investors are purchasing more bonds that support lower mortgage rates.
That means we have an environment where, even if the home PRICE is higher (good for your equity), the COST may not be.
If you're looking to buy, the cost of your monthly payment may be the same or even less than before, despite the higher prices.
If you already own, falling rates and growth in your home's value can provide access to lower payments, cash from equity, elimination of mortgage insurance, or trading to a new home.
Want to know more about how this good news may impact you? Please reach out. I'll be happy to assist.
And one more thing—thank you for allowing me to send home financing news your way. If you feel these sorts of updates would be helpful to a friend or family member, don't hesitate to forward them along.
