Scottsdale real estate Interest rates and home prices – Opposites? Some people mistakenly believe buying a home is a bad idea when prices are affordable or when interest rates are low, because they worry prices may go lower still. In fact, either of those situations can be a great time to buy.
Scottsdale real estate history shows that low interest rates spark demand for homes. With more buyers available, sellers can raise their prices--in fact, it may not be uncommon to see multiple offers before a home is sold. Buying before demand pushes prices up is a good opportunity for buyers, who want to take advantage of low rates before they increase, as they eventually will.
Low interest rates, on the other hand, tend to bring buyers into the market, bidding home prices up. The low rates, however, make those higher prices more affordable for buyers.
Knowing now that opposites don’t necessarily attract we can also provide you with a Free Report on how to buy the house you love at the price you want – Did I say it was free and without obligation? Go ahead and try is now, it’s on the Scottsdale real estate website.
The good news today is that mortgage interest rates moved down a bit for a second straight week across the nation and for Scottsdale real estate. A couple of weeks do not make a trend especially when we consider the volatile ride in recent months. The general direction of interest rates for home loans has been heading north.
Is this important to the home buyer? In a word, yes!
It means the money you’ve budgeted for housing doesn’t go as far, in terms of the price you can afford to offer. A look at Scottsdale real estate history suggests that moves in mortgage rates can exert an influence on home prices – That move is in the opposite direction. Sometimes it’s not that damaging but who wants to bet on sometimes. You’ll probably lose less if you make a trip to Vegas and spend some time at the tables.
Look at our Free Report on how to buy the house you love at the price you want – It's free and without obligation? The report is at Scottsdale real estate.
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