What Will Happen If You Wait One Year To Buy?
Home prices nationwide have increased by 6.7% year-over-year. During the same time frame, interest rates have also stayed historically low, which has provided an opportunity for many buyers to enter the real estate market.
As a seller, you may be focusing your attention on ‘short-term price’ – where home values are trending over the next six months.
As a buyer, however, you should not focus on price; rather, you should be concerned with the ‘long-term cost’ of the home purchase.
The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all predict that mortgage interest rates will go up by Next Spring 2019. According to CoreLogic’s most recent Home Price Index Report, home prices are…