Word on the street is that the Feds are considering a proposal to force 30-year fixed-rate mortgages to 4.5 percent. That’s obviously great news for buyers.
So people have been asking me – when should I buy? Are things going to get better or worse? Well, I wish I knew. What I can tell you is that especially for first time home buyers now is a good time to buy.
It’s a rough time to sell and that’s an opportunity for first time buyers. Can you get the big loans of years past – no. But that’s a good thing. It’s smart to buy a home you can afford and the more stringent loan requirements are helping people buy homes they can afford.
There are a number of incentives out there for first time homebuyers. We just helped placed a couple is a home using federal support this fall. We keep up on the opportunities that are out there. It’s our job as buyer agents to know every advantage to you in the market.
The holiday time is a great time to let your family know you’re thinking about a home purchase. Maybe you can get help with the down payment this year instead of a new tie!