I know you come to my blog for my advice (my GREAT advice) for fashion, party planning, basic lifestyle hacks… you know, the fun side of me. I also hope you come for credible information on all things mortgage-related. I know everyone doesn’t need a mortgage all the time. (That’s why I fill you in on fashion- like on my IG and party planning -like in this post.)
But, my main business is being the best mortgage lender available to you. So, in today’s post, I want to talk about the 2019 spring market. If you’re considering buying or selling, the time is now.
Charlotte and surrounding areas continue to be a top relocation spot for people across the country. It’s projected that hundreds of thousands of people will move here over the next ten years. That’s a huge boom and does not include all the people who already live here. Millennials will eventually have babies, move out of their uptown apartments, and need homes too.
As we continue to grow, real estate will become a premium. Our local government is researching where land should be bought to plan for the future. You have the opportunity to do the same thing – look at the housing market now as an investment opportunity for you.
According to CoreLogic’s latest U.S. Home Price Insights, home prices have appreciated by 4.4% over the last 12 months. The same report indicates that homes will continue this upward rise at a rate of 4.6% over the next year.
Mortgage rates are rising as well. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors all project rates will increase by this time next year.
Luckily, if you’re first time home buyer there are still a limited amount of $8,000 down payment assistance programs available. We recommend you use this toward a down payment or your closing costs.
The rates right now are in the low 4’s for a 30-year fixed mortgage. It’s still an incredibly good time to get in on a home. Whether your dream is to own a home or condo, downgrade or upgrade, we at Lending By Design will find the best possible rate for you to make your dreams come true! Apply here!