If you have been dreaming of a new home at The Canoe Club and the negative news has kept you from putting your existing home on the market, consider this from Realtor.com:
Time to Put Your House on the Market
“Existing-home sales increased in November, according to the National Association of Realtors®, marking two consecutive months of increases. Three of four major U.S. regions saw gains in sales activity last month.” If you are in a starter home and wanting to move up, the article goes on to say that the first time homebuyers are looking for your house. First-time buyers were responsible for 33 percent of sales in November, up from last month and a year ago (31 percent and 29 percent, respectively). NAR’s 2018 Profile of Home Buyers and Sellers – released in late 20184 – revealed that the annual share of first-time buyers was 33 percent. Now is a great time to put your house on the market and move towards your new home at The Canoe Club.
But what about interest rates? The exciting news is that interest rates are as low as they were last summer. Hurry to lock in your rate while they are still very low.
Mortgage Rates End the Year Lower
Last Thursday (the day after all of the above news), Freddie Mac announced that mortgage rates did not increase but instead decreased…again. From their release: