If you have been following business news lately, you probably have found out that mortgage rates are going up not just in Texas but across the country. This trend is expected to continue in the next few years. But what does this mean to new home buyers? Well, for those who are planning to purchase a new home, today could be the perfect time. However, please note that while the interest rates are relatively low, they could go significantly higher in the next few years.
Finding the best mortgage broker reviews, Corpus Christi, TX
Planning to buy a new house in Texas? If so, work on it today before mortgage rates go up. But remember, do some research and read from the best mortgage broker reviews, Corpus Christi, TX, prior to purchase. This can increase the chances of finding the best mortgage deals in town. Such reviews are coming from those who have experienced the product themselves, so you get authentic assessment from real people.
HomePlus can help you in mortgage goal
As a leading mortgage company (please read the reviews about Homeplus from a network of buyers on LendingTree),we have been helping clients in Corpus Christi, TX, to find the best deals on mortgage, In fact, we provide competitive mortgage rates not just for clients in this area, but across different states. Our access to a wide network of lenders provides a key ingredient in getting the best deals in town for our clients.
How mortgage rates have changed since 2007
If you can recall, mortgage rates went as high as 6.4% in 2007 (in fact, others say it is way higher than that). Today, the interest rates are between 3.52% and 4.38% across various loan types. Indeed, interest rates can change in just a short span of time. Again, indicators suggest that this is the best time for you buy as mortgage rates are relatively low.
Interest rates, timing
Here at HomePlus, with the goal of helping you make the right decision, we are giving you some useful information that could help you find the best deals on mortgage. Particularly, we provide insights about the two factors that affect home buying decision: Interest rates and the timing.
On interest rates:
- Majority of home buyers need to apply for a loan when making a new purchase. It is highly likely that you need it too. Get a mortgage loan to take advantage of low interest rates today.
- Check out 30-year fixed mortgage rates prior to house purchase; 30-year mortgage rate sits at around 4.5% these days.
- Mortgage rates fluctuate and that is why timing is really important to get your dream house.
- The mortgage market environment has kept home buying affordable, despite the fact that home prices are on the rise not just in Texas, but across different states in the country.
- Various forecasts suggest that mortgage rates will continue to rise in the next few years. It makes sense to buy today before the rise of interest rates will render you incapable to buy.
On the best buying season:
Apart from interest rates, the season also dictates property deals. Well, the reason is pretty simple – supply and demand. So, watch out for the best season of a year prior to purchase, and here are useful some insights:
- History has shown that the best time in a year to purchase a new house is between the late fall and early winter. Again, this is due to supply and demand.
- Starter home inventory increase 7% between the month of October and November
- Inventory drops in popular moving months, such as the spring and summer; the lack of inventory makes the price more expensive
- It is a smart idea to find prospective properties in the fall and then wait until winter to make an offer
Have more questions about getting the best deal on mortgage? Contact HomePlus today at: 800-810-PLUS (7587)