In today’s market, many people are leery of the rising interest rates and discouraged to buy a home. Some are even deferring the home buying process in hopes that the interest rates will lower.
What they don’t realize is that interest rates are still historically low. For years the average interest rate on a 30-year-mortgages never went below 6.0, until January 2009. The unusual low interest levels came as a direct result of U.S. Federal Reserves vigorous acquisition of bonds– in an attempt to boost the economy.
But as the economy improves, the Federal Reserves buying spree will end– I suspect within the next 2-3 years. This will effect the mortgage rates, spiking them to high levels we haven’t seen since 2009.
My advice, if your looking to move, now is a great time to buy, because rates continue to be very reasonable!
For any additional information about real estate market trends, housing information, or to see available homes for sale, contact me at:
Steve Maurer
925-381-8629
Married for over 15 years now, my bride, Shannon, and I are parents to three wonderful children, Matthew, Mikey and Emily.Life with three kids is exciting, busy, and fun-filled, as we are actively involved in both our children’s activities and the greater community of Danville.I am an eager participant with my sons' sports teams, our local Cub Scout pack, and volunteer in the different classrooms whenever I can.My family and I enjoy downhill skiing in the winter, boating, water skiing in the summer, and woodworking and general home improvement year-round
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