Wescott sold five homes in December and is already over 75% sold! Now is the perfect time to make your move or you can choose to build your home on a future homesite from our featured plans.
Not sure that now is the time? Consider this article from KeepingCurrentMatters.com about the current mortgage rates and you may decide now is the perfect time.
As mortgage rates rise, the increase impacts the overall cost of purchasing a home. The higher the rate, the higher your monthly mortgage payment, especially as home prices rise too.
What does this mean for buyers?
Right now, the inventory of houses for sale is also at a historic low, making it more challenging than normal to find a home to buy in many areas. As more buyers hit the market in the typically busy spring buying season, it may become even harder to find a home in the coming months. With this in mind, Len Keifer, Deputy Chief Economist for Freddie Mac, recommends taking advantage of both low mortgage rates and the opportunity to buy:
“If you’ve found a home that fits your needs at a price you can afford, it might be better to act now rather than wait for future rate declines that may never come and a future that likely holds very tight inventory.”