Is 2017 The Year To Move Up

Dated: 05/10/2017

Views: 56

Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early! | Simplifying The Market

Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!

   For Buyers, Interest Rates, Move-Up Buyers

If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:

Freddie Mac

While full employment and rising inflation are signs of a strong economy, they also have the potential to push mortgage rates and house prices up. The higher rates and higher prices create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017.”

Lynn Fisher, Vice President of Research & Economics for the Mortgage Bankers Association

By the time we get to the fourth quarter of this year, we will still be under 5 percent – we are thinking 4.7 percent…Something north of 5 percent by the time we get to 2018, and by the time we get to 2019, we show fourth-quarter rates hitting 5.5 percent.”

Mark Fleming, First American’s Chief Economist

Despite some regional disparities, title agents and real estate professionals do not expect increasing mortgage rates to have a significant impact on the housing market this spring. Continued good economic news, increasing Millennial demand and confidence that buyers will remain in the market even if rates exceed 5 percent bode well for 2017 real estate.

Len Kiefer, Deputy Chief Economist for Freddie Mac

We will probably see rates higher at the end of year, around 4.5%.”

Bottom Line

If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.

Latest Blog Posts

Do I need to talk to my insurance agent?

Yes, and the sooner, the better. Most insurance professionals have a lot of experience in working with homeowners and can offer useful tips about home ownership, particularly regarding home safety

Read More

Importance of a Home Inspection

The inspection period for a buyer is very importment for many reason. When you walk through the home your looking to purchase, you can not see the roof, you view the furnace and central air but you

Read More

Service For Life Teams News Letter August

Insider Tips for Healthy, Wealthy and Happy Living – View in browserIf you're not already a subscriber email me to sign–upSteve Schroeder's...Service For Life! ®Inside

Read More

I would Highly Recommend Mary Jo Swartz as a realtor

Mary Jo is very professional in her work. She calls back quickly and answers all my questions. I highly recommend her selling your property as well as buying. I feel she has represented me with

Read More