When is a good time to buy? Usually when rates are at ridiculous lows. Long term interest rates are now in the 3.6% range (rates depending on each borrowers credit, down payment terms, and type of financing). This is about 1% lower than this time a year ago. If you are going with a 15-year interest rate, you are looking at the low 3% range.
For first time homebuyers, in most cases you are able to purchase a home and have your mortgage payment equal or be lesser than a similar rental payment. That’s not always the case. For investors, you can purchase a home using cheap money which historically has not always been the case either. Ask us how the rates affect you and your plans for 2020