In the past couple of years, living with mom and dad over the age of 18 has unfortunately become a reality for many American families. However, with the employment rate improving, people are now able to afford living on their own again. With the increase in gainful employment, more and more people are moving out of mom and dad’s house and venturing out on their own. Bloomberg News has reported the possibility of the housing market increasing by more than 50 percent even in the next year. The strongest sales growth was seen in the South, boasting a 10.1% increase since February.
As the spring season begins to peak, buyers are fortunate that they can enjoy some of the lowest rates seen in years. Mortgage rates have remained stable for quite some time, and remain low at 4.5% for a 30 year fixed mortgage and 3.75% for a 15 year fixed mortgage. Rates have been fluctuating around five percent for the past two years. With more and more buyers looking to strike while the iron is hot, some brokers are pricing their conventional loans pretty aggressively, which is another great plus for buyers.
Confused about when to buy? Get all the facts before you take the plunge. Call one of our real estate professionals today to get the inside track. Contact David Lever at 252-714-8827
