It’s summer time in Port Liberte, which means you probably have some serious plans for relaxing, having fun, and soaking up the sun. However, while you should maximize your fun this summer, you should avoid taking a vacation from your home search.
Now is one of the best times to buy a home in Port Liberte! Rates are low, demand is steady, and the market is strong. This may soon change depending on the upcoming fluctuation of mortgage interest rates!
Lock In a Historically Low Interest Rate
You may have heard whisperings about how current mortgage rates are some of the lowest they’ve ever been. Well, the whisperings are correct! Mortgage interest rates are low right now, making it a great time to apply for a mortgage.
However, it’s not all about mortgage rates. Competition for homes right now is at a moderate level. If it gets any higher, it will be harder to buy a home with multiple offers on it—especially in a community as popular as Port Liberte.
Upcoming Rate Changes May Affect Your Home Purchase
Many mortgage lenders, including the highly esteemed JP Morgan, predict that the Federal Reserve will soon cut mortgage rates even further. This comes as a result of uncertainty over the future of the economy and the stock market.
Many economists believe that we may be looking at an economic fallout at the end of this year, due in part to trade wars and tariffs.
Aren’t Lower Rates a Good Thing?
In the past, whenever mortgage rates have been cut significantly during a period of extended decline, price growth and sales growth increases dramatically. This means that by the end of 2019, it could become slightly more expensive to buy a home.
The bottom line? Now is the time to buy a home, before home prices increase as a result of slashed mortgage rates. The market is steady, so now is the best time to invest in Port Liberte real estate.
Any Lingering Questions? I’m Here to Help
Need assistance with your Port Liberte home purchase? Or perhaps you just have a question about the current state of the real estate market? Whatever you need, I’m here to help.
As a longtime Port Liberte real estate agent, I understand this community better than anyone. Give me a call today to learn more about your options for buying a home in Port Liberte.