Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!

Keith Kreis
Published on May 9, 2017

Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!

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If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year: When To Buy A House

Freddie Mac

While full employment and rising inflation are signs of a strong economy, they also have the potential to push mortgage rates and house prices up. The higher rates and higher prices create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017.”

Lynn Fisher, Vice President of Research & Economics for the Mortgage Bankers Association

By the time we get to the fourth quarter of this year, we will still be under 5 percent – we are thinking 4.7 percent…Something north of 5 percent by the time we get to 2018, and by the time we get to 2019, we show fourth-quarter rates hitting 5.5 percent.”

Mark Fleming, First American’s Chief Economist

Despite some regional disparities, title agents and real estate professionals do not expect increasing mortgage rates to have a significant impact on the housing market this spring. Continued good economic news, increasing Millennial demand and confidence that buyers will remain in the market even if rates exceed 5 percent bode well for 2017 real estate.” When To Buy A House

Len Kiefer, Deputy Chief Economist for Freddie Mac

We will probably see rates higher at the end of year, around 4.5%.” When To Buy A House

Bottom Line

If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense. When To Buy A House

source: Keith Kreis Real Estate News

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Things to Consider When Buying a Home

 

Daydreaming About Your Perfect Home?


Buying a home usually represents your single biggest investment . When To Buy A House

The home buying process is one of the most exciting, and frequently stressful, experiences you’ll ever go through. This holds true whether you’ve bought many homes or you’re looking to buy your first, whether you’re in the market for a new primary residence, an investment property or that perfect 
vacation getaway. Today’s real estate market can offer more opportunities, yet
 can be filled with more risks than ever before. There are a multitude of factors to consider and decisions to make when Buying a home . When buying, it’s crucial to have all the available resources necessary to make a well-informed decision, together with the time required to make use of them. It’s important to enlist the help of a trusted real estate professional ” Keith Kreis “who’ll be able to provide expert guidance at each step of the buying process. Finding and Buying a home includes the following steps, which we’ll examine in more detail throughout this booklet: When To Buy A House

1.) Define your goals, research your options, make your plans

Given that buying a home is such a big step, it’s very important to educate and prepare yourself as much as possible. This means clearly determining the reasons you’re buying and what kind of home you’re looking for. Since buying and financing Buying a home are so closely related, it also means examining your current financial situation and projecting how much you can afford. Once you’ve answered these questions, even tentatively, you’ll be in a better position to research housing and mortgage options, and create an action plan and timelines for moving forward. Although it is possible to do this yourself, you may benefit by consulting an experienced real estate professional like myself to help guide you right from the start. When To Buy A House

Read More from Guide To Buying a Home

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Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!
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