Today, home prices are appreciating. When we hear prices are increasing, it’s normal to think a home will cost more. However, low mortgage rates are actually making homes more affordable, even as home prices increases. With mortgage rates hitting all-time lows eight times this year, it’s now less expensive to borrow money, making homes significantly more affordable over the lifetime of your loan.
If you’re thinking of making a move, now is a great time to take advantage of the affordability that comes with such low mortgage rates. Whether you’re thinking of purchasing your first home or moving into a new one and securing a significantly lower mortgage rate than you may have on your current house, reach out to a real estate professional today to determine your next steps in the process.