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Time to Buy?
- John Naylor
- Apr 4
- 1 min read
Abby Dole, from nerdwallet, wrote a fantastic article highlighting where we are in current market trends giving the short-term and long-term perspective!
Some key takeaways from the article:
💡The interest rate on a 30-year fixed-rate mortgage averaged 6.76% annual percentage rate (APR) for the week ending April 3.
💡Buyers are still better off today than when the 30-year mortgage rate peaked at 8% in October 2023, or even when rates surpassed 7% in May 2024.
💡 As we enter the traditional spring homebuying season, the market is likely to awake from hibernation. That will provide buyers with more choices — and hopefully, a little more leverage compared to previous years.
How do you know if you are ready to buy?
🧠Do you feel ready to settle down in one place for some time?
🧠Are you able to afford the monthly mortgage payment of houses that you are interested in?
🧠How is your credit? Do you need more time to build up your credit score?
🧠Have you thought about your Debt-to-Income ratio?
Unsure or ready to jump in? No worries! We are here to help you navigate through this life-investing decision! Contact us today and we would love to talk you through the buying process!
If you are a community hero (law enforcement, firefighter, EMS, military/veteran, teacher/educator, or healthcare professional) let us know! We would love to discuss with you how we can help you save through Homes for Heroes!
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