It’s a great time to be a homebuyer in Port Liberte! Recently, you may have heard or read scary headlines highlighting recent rises in mortgage interest rates, but the truth is that rates are at a low point.
In fact, this is the lowest they’ve been in fourteen months. April is shaping up to be a great month to buy a home in Port Liberte, and with interest rates this low, I’ve got to agree!
How Low is Low?
Over the past 50 years, interest rates have ranged from a high point of 18.6% to 3.3% in 2012. That’s quite a difference!
Today, in 2019, the average mortgage interest rate for a 30-year fixed rate loan is just 4.28%. While this may shift substantially in the coming months, a recent report suggested that that rate would only increase to about 4.6% by the end of the year.
That’s still much lower than previous projects, which estimated it to climb above 5%.
Will Rates Go Up Again?
While mortgage rates are at a 60-week low, there’s always the chance they could go up again. That’s just the nature of real estate!
However, my biggest piece of advice is to act now while rates are low. When it comes to the real estate market, or any other market, good things tend to happen slowly (such as mortgage rates slowly dropping over the course of 14 months), while unfavorable things happen rapidly (think the stock market dropping 1,000 points in a day).
What Does This Mean for You?
It means now is a great time to buy a home in Port Liberte! With such historically low interest rates, now is the most advantageous time to go shopping for a mortgage. You want to lock in that rate as soon as possible!
Plus, the spring buying season means more homes are on the market than ever—giving you plenty of fantastic options to choose from in Port Liberte.
Take Advantage of Low Interest Rates
Give me a call today so we can explore your options!