Is selling your home in the Winter a good idea? With interest rates keeping consitently low, buyers are more inclinded to buy reguardless of the season. Most people think the best time to sell is
Mortgage Rates Rising Buy A Home Now
Dated: March 16 2017
Views: 212
If you’re having trouble deciding whether you want to keep renting or buy a home, maybe this will help: Interest rates on mortgages are on their way up.
In February, the average interest rate on a 30-year fixed-rate mortgage was 4.17 percent, according to Freddie Mac. That’s up from 3.66 percent in February 2016, but it’s still incredibly low.
Marni McMillan with VIP Mortgage in Denver said rates are likely to continue rising, so it’s a good idea to strike while the iron is hot.
“These are still amazing rates. Take advantage of the rates while they still are low. All indicators we are hearing is [that] rates will be on the rise in the future,” McMillan said.
If you can get into a fixed-rate mortgage now, you’ll be locked in at that rate, saving you money over the life of your loan. Even a seemingly small increase, from 4.5 percent to 5 percent, can add almost $30,000 to a 30-year mortgage on a $250,000 house.
Buying a home in the Denver area right now can be daunting. Housing inventory and demand is incredibly high, making it a seller’s market. But McMillan said prices—for buyers and renters alike—are only going to get higher. By buying now, you can limit how much your housing costs will go up.
McMillan said there are no indications of any “softening” of property values in the near future, so homeowners shouldn’t be worried about buying a home only to have it lose value due to a downturn in the housing market.
The key is getting a good rate and locking it in with a fixed-rate mortgage.
Denver Colorado Real Estate Professional -Michael Steffen
Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; Denver, Arvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!
Generation Property Group
My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....
Latest Blog Posts
One of the best parts about Christmas at Generation Property Group is going on the hunt for the perfect LIVE Christmas tree.We have the best memories of strapping a tree to the top of our subaru and
One thing we've learned about 2020 is to be creative with activties! While a lot has changed in our daily lives, we have used our creativity to plan healthy and safe things to do while social
We know 2020 has been a CRAZY year! Here are some easy make ahead Thanksgiving recipies to help make this year's Thanksgiving a little less crazy! Test out one of these RECIEPIES in your new Denver
The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO©. Real estate listings held by brokers other than EXIT Realty, A Smart Movename are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. May 16, 2021 5:35 AM UTCd
The real estate listing information and related content displayed on this site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak Realtor Services Corp.