Time to buy home? Prices and Mortgage Rates to rise

By
Real Estate Agent with HomeSmart Real Estate BR632450000

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 expected to rise in 2017                                                           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. 

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting

HomeSmart

Scottsdale, Arizona

JeffMasich@ArizonaHomesLand.com

http://ArizonaHomesLand.com

480-242-6500

 

 

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Rainmaker
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Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

All great reasons why NOW is the best time to buy. We can't predict how high prices will appreciate or how high interest rates will rise. We can control our action to take advantage of the market in its current state.

Mar 06, 2017 07:45 AM #1
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Rainmaker
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI

Arizona Homes and Land Group/ Buy or Sell
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