Move Up Buyers Abound in Lancaster Co., PA !

By
Real Estate Agent with KW Elite
https://activerain.com/droplet/4YKj

Is This the Year to Move Up to Your Dream Home? If So, Do it Early

Is This the Year to Move Up to Your Dream Home? If So, Do it Early | MyKCM

It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:

  1. The University of Michigan Consumer Sentiment Index
  2. National Federation of Independent Businesses' Small Business Optimism Index
  3. CNBC All-America Economic Survey
  4. The Conference Board Consumer Confidence Survey

It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.

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:

HSH.com:

“We think that conforming 30-year fixed rates probably make it into the 4.625 percent to 4.75 percent range at some point during 2017 as a peak.”

Svenja Gudell, Zillow’s Chief Economist:

“I wouldn’t be surprised if the 30-year fixed mortgage rate hits 4.75 percent.”

Mark Fleming, the Chief Economist at First American:

“[I see] mortgage rates getting much closer to 5 percent at the end of next year.”

Lawrence Yun, NAR Chief Economist:

“By this time next year, expect the 30-year fixed rate to likely be in the 4.5 percent to 5 percent range.”

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.

Buyers , your first step in entering this competitive market is to obtain Mortgage Pre-Approval ! Email mikeperrykw@gmail.com to get started.
 
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Don Hess 01/12/2017 04:12 PM
Topic:
Real Estate Market Trends
Location:
Pennsylvania Lancaster County Lancaster West Lampeter Township
Groups:
ABR-Accredited Buyer Representatives
Keller Williams
Keller Williams Realty Referral Group
It's A Buyer's Market
Advice for Sellers
Tags:
west lampeter real estate news
penn manor real estate news
solanco real estate news

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Rainmaker
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Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

We need this. We need more properties in our inventory.

Jan 17, 2017 12:32 PM #1
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Michael J. Perry

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