As interest rates on home mortgages have hovered at or near record low levels in recent years, prospective buyers and sellers have both derived potential benefits. For buyers, a low 30 year fixed mortgage rate means that they will be able to afford the most house for their money. For sellers, this greater buyer affordability translates to higher asking prices. However, as they as, "good things do not last forever." As the Federal Reserve continues to hint at the direction that interest rates will take, there is nowhere to go but up. The only question is, "When"? According to a National Association of Realtors' forecast, rates will reach 5.3% in 2016. Can you afford to wait? Give Rosa Agency, Inc. a call to discuss the home buying process 201-997-7860.
Augusto Neno, Broker & Owner
Rosa Agency, Inc , 201-997-7860