Mortgage rates continued to drop as we entered the summer months, steadily reaching new all-time low points. Americans are benefiting from a historic opportunity to buy a home on excellent terms. Concerns about Europe have encouraged worldwide investors to buy U.S. Treasury bonds as they seek a safe spot for their funds. Increased demand for Treasury securities has caused their yields to drop – and that translates into lower mortgage costs. Purchasing with a fixed-rate loan now gives you the assurance that your monthly payments will remain affordable as long as you live in your house. No matter how high interest rates rise in coming years, your mortgage payment will remain unchanged.
U.S. households enjoy a unique advantage when it comes to borrowing money. Most American consumers can obtain funds for decades on better terms than what's available for big corporations. In other words, you may be able to borrow at a lower rate than some of our nation's largest companies can. You also can deduct your mortgage interest payments when it's tax time. Both of those benefits translate into substantial savings for U.S. homeowners.
Best of all, you'll be living every day in your own special place. You'll gain lifestyle advantages by being able to select your home and neighborhood. Yet it's important to realize that today's favorable conditions won't last forever. Contact us right away to learn how you can purchase a home soon. We'll review your credit report with you to check for errors, and show you how different home loans would fit into your budget. Even if you considered purchasing in recent months and decided not to, you may be surprised at how market conditions have improved recently.
Buying a house is a long-term commitment, and we'll make certain that you'll be comfortable with your financing for years. Call us soon to set up a no-obligation meeting to discuss your housing goals.
Home sales and prices both are forecast to rise in 2012 – and keep going up in 2013, says the National Association of Realtors (NAR). Buyers are responding to record-low mortgage rates and discount property prices. NAR Chief Economist Lawrence Yun adds that owning a house remains a smart long-term lifestyle choice. He notes that "from 1981 to 2011, despite the housing bust years, home values more than tripled."
Homeownership tends to increase the financial well-being of American families. Renters typically have a net worth of $4,000, while owners on average are worth about $160,000. Purchasing a house when prices are low could be a key to gaining greater financial security. Currently several factors point to a real estate revival:
We're prepared to help you gain attractive payments on a wonderful home. Talk with us soon to learn how it's possible to get a great deal on a house you'll love for years.
Real estate sales continue to accelerate nationwide, says the National Association of Realtors (NAR). "Home contract activity has been above year-ago levels now for twelve consecutive months," explains a NAR official. "The housing recovery momentum continues."
Sales this year should reach their highest level since 2007, predicts NAR. Growing numbers of purchases are reducing the inventory of homes on the market, as well. Today the number of properties available for purchase is at its lowest point in six years, according to NAR. Increased demand from buyers is causing prices to go up around the country.
Yet that suggests an opportunity is presenting itself for many Americans. Plenty of households have remained in their current home in recent years. If you didn't have a compelling need to move, it's made sense simply to observe the market turmoil. However, real estate market dynamics are changing. In some neighborhoods buyers now must make an offer that's higher than the asking price in order to be the winning bidder.
Persons who have hesitated to purchase real estate in recent years because they weren't sure they'd get a good price on their current home now can feel better about moving ahead. A recent survey found that "the share of (home) buyers who think it's a good time to sell more than doubled" in the last quarter, says The Wall Street Journal.
"More than seven in ten buyers said they had faced a competing offer when making an offer for a home," the Journal adds. Obtaining loan pre-approval from us makes your offer stronger, since sellers then know financing won't be an issue.
Today's market gives benefits to existing homeowners. You can obtain a competitive price on your residence, and then take advantage of low rates when purchasing a move-up property. We'll show you what payments you'd have on a great new house. And we'll work hard on your behalf throughout the home purchase process.
Two distinct strategies are available to homeowners wanting to position their finances as they start thinking about retiring. Both approaches work in different situations, and need to be selected carefully. The one which is right for you depends on your personal financial circumstances and goals. After consulting with us, you'll be ready to make a choice that provides the benefits you're looking for. Many owners now are refinancing into a 15-year mortgage in order to pay off their home loan faster. Today's record-low rates make their monthly payments surprisingly affordable. Building equity quickly can let consumers reach retirement without having any housing debt.
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