5 REASONS NOW IS A GREAT TIME TO BUY A HOMEBy: NAR REBAC Staff Posted: 05/29/2017
1. Interest Rates are Rising
After years of historic lows, interest rates are edging up. This started late last year when the Federal Reserve increased its benchmark interest rate by a quarter point in December, and again in March. Experts are expecting three more upward adjustments during 2017. (Buyers should remember this is a projection, not a promise.)
The fact remains that interest rates were lower a year ago, and that the trend of increasing interest rates is expected to continue. In fact, current homeowners with an adjustable rate mortgage may want to consider securing a fixed rate loan before rates increase further.