Are you trying to find a home to buy? With low mortgage interest rates, now is a good time to go house hunting. Let's explore!
If you're in the north like me, you're in a deep freeze. We've got over a foot of snow and the roads are icy, but there are nearly 100 homes for sale in our area. Despite the harsh weather, we northerners continue to get out and look at houses to buy. How about you? Have you talked to a real estate agent to see what's available in your area?
Another good reason to buy a house right now is low mortgage interest rates, although they are slowly climbing. A 30-year fixed-rate mortgage is hovering around 3.22-3.83%, while a 15-year fixed-rate mortgage is 2.43-2.72%. I can remember scrambling to get an interest rate of 3.25% years ago when I bought the house I'm in. When you take advantage of a low-interest rate, you save thousands of dollars over the life of your mortgage. Talk to a mortgage lender today to get pre-approved for a mortgage and get locked in at a low rate.
This year millennials are at the age where they would typically get married or live with a partner, which is also a time when they would want to buy a home. This group of 4.7 million potential home buyers are likely to be your main competition. Take advantage of an experienced real estate agent who can show you houses before they hit popular housing websites, and you will have an advantage over home buyers like millennials. By the time you see a home for sale on a popular housing portal, it could already be under contract. An experienced real estate agent will give you a distinct advantage over house hunters who choose to look for a house to buy without an agent.
5.9 million homes are expected to sell in 2022 (National Association of Realtors®). If you're having problems finding a house to buy and don't have an agent, please let us know by emailing us at info@reazo.com. We will do our best to connect you with a real estate agent in your area.
Want to learn more about buying a home? Check out our extensive home buyers guide, and bookmark it so you can refer to it any time you have a question.
