You have been looking at homes and looking some more. Is it time to get off the sofa and buy a home? Well it could be as home prices and mortgage rates are expected by most analysts to rise in 2017. Economic stimulus funds and free grants for home buyers may be drying up.
Home prices are expected to rise in 2017
Reasons to Buy a Home Now
1. Home prices may rise in 2017: Realtor.com forecasts price increases in 2017 with the Phoenix metro area to have the highest year over year price increases and with a national price increase of 3.8%
2. Mortgage Rates may rise in 2017: The Federal reserve signals that interest rates are expected to rise this year per Szu Ping Chan of the Telegraph Business and very soon. Mortgage rates increases may follow. Realtor.com predicts mortgage rates to increase to 4.5% in 2017 and may continue further after that.
3. Economic Stimulus Down Payment assistance available for while longer: Economic stimulus funds that aid various states to encourage buyers to buy with down payment and/or closing cost assistance may not be around for muc longer. To see the still available free grants for home buyers in Arizona that may similar to other states, check here.
Arizona is a still a popular place to buy with great weather, fantastic scenery, golf, resorts, sports, high technology businesses, retirement communities and major Universities. To see homes for sale in Arizona or homes for sale in Scottsdale with current prices.