Housing Market TrendsIf you’re in the market to buy a home, then you’ll want to consider the current housing market trends. Here are just a few things to consider.
Mortgage Rates Continue to Fall
Since January 2019, mortgage rates have been on a steady decline, falling from 4% to 3.5%. It’s a great opportunity for new home buyers with these low rates. According to Freddie Mac, a government-owned corporation that buys mortgages, homebuyers have continued to take advantage of multi-year low rates, with both refinancing and purchases.
Home Prices Are Continuing to Rise
Recently, there’s been a lot of discussion about an upcoming economic slowdown. However, a recent report by CoreLogic, a property information and data provider, paints a more optimistic picture on the future of the housing market. According to the report, home prices and rents have continued to grow since June 2009. Through May 2019, home prices increased a cumulative 50% and single-family rents increased 33% in the United States.
If you’re considering purchasing a home in the near future, you’ll want to find out what type of mortgage you can afford. Use our free mortgage calculator and figure out the right payment for your budget.
Whether you’re selling or buying a home, Emory Alliance Credit Union can help you take advantage of the current housing market trends. We offer a variety of loan options, including fixed rate mortgages and adjustable rate mortgages. Call Adrian Farris at 404.486.4317 or e-mail firstname.lastname@example.org to see how he can help you with a home purchase, or save money every month by refinancing today. Applying online is easy at Emory Alliance.