August 27, 2019
Now is a great time to buy a home and if you’ve been toying with the idea of it at all, then hearing this might not be news to you. However, we’re here to expand on the reasons why! Below are three big reasons that highlight why now is such a good time to buy a home:
1. Interest rates are down almost a full point since last fall. That’s massive! Also, Fannie Mae is predicting that the average 30-year fixed mortgage rate will be 3.7% in the second half of 2019. This gives you SO MUCH more buying power and options!
2. Affordability. Home price, wages, and interest rates are the key factors in determining home affordability. Wages are currently up and with interest rates down, the combination makes homes more affordable TODAY than they were a year ago.
3. Creating family wealth. Homeownership is a sensible way to build long-term family wealth. Why build equity for your landlord when you can build it for yourself?! Therefore, the sooner you put the power of home equity to work for you the more profitable you’ll be.
There are always multiple factors to consider before buying a home, and it’s important to understand what is going to work for you. If you want to know more about what you can afford, we’re here to help! Give us a call at 562.270.1775 or contact us here. At The Oriana Shea Group we’re here to help answer any questions you might have, and to put you at ease when it comes to buying a home.
Article Source: Keeping Current Matters
About The Oriana Shea Group
At The Oriana Shea Group, you will find a wide variety of useful tools and resources designed to help you with the home-buying and selling process. From information on the region’s different communities to advice on the home-buying process to a free comparative market analysis on your home, it’s all available here on our website. Our full-time agents serve Long Beach, Seal Beach, Lakewood, Rossmoor, Los Alamitos, Huntington Beach and the surrounding areas.