?More good news for home buyers
Posted on Monday, August 22, 2016 at 8:36:03 PM
Home buyers are facing a very preferable landscape right now, with the residential real estate market in better shape than any other time since before the housing crisis, and financing options so abundant. Several reports this month illustrated the fact that now is an ideal time to apply for a mortgage.
The Real Deal reported that interest rates dropped to the lowest average in history to start August, sitting at 3.36 percent for 30-year mortgages. Not surprisingly, the news source pointed out that residential real estate is doing so well because investors from around the globe are trying to put their money into safer markets.
Refinancing has also been hot in August. The New York Times reported that refinancing applications increased by 132 percent, and that low interest rates are expected to remain as such through the end of the year, further boosting applications.
Whether you are looking to apply for a new mortgage or refinance an existing one, now is certainly a good time to do so. Always consider working with a local, community bank to ensure that you get the best possible guidance.