While we don’t have a crystal ball, interest rates are unlikely to return to peak pandemic levels anytime soon. Thanks to a push from the government, interest rates have corrected to be at about an average level for the last two decades.
To put it simply: don’t panic! It’s still a great time to buy a home! If you need a bit more information on why now is the right time buy a home, read our top 3 reasons below.1. Rental Prices Continue To Increase
Rental prices are at a historic high and continue to rise—without allowing the renter to build equity. When you’re renting, you’re essentially paying your landlord’s mortgage. When you move, all of your “investment” is lost. This is not the case when you own your home. Instead, your mortgage payment builds your own net worth, not your landlord’s. Homeowners can access this wealth when they sell their home, or while they remain in their home through home equity loans or a cash-out refinance.
We're happy to chat with you about interest rates, the value of new construction, and anything home related!