Chesapeake Real Estate: Luck of the Irish

March 17th, 2017 By Bryan Cerny in 1st Time home Buyers,Blog,Buying and Selling Real Estate,Chesapeake,Financing,First Time Home Buyer,Home Sellers,Houses,Listings,Mortgages,Senior Topics and Decisons. Tags: , , ,

No matter who you are, it is a bit of fun to be Irish today!!!   Whether you will enjoy a bit of Irish stew with your favorite green beer or simply pinch everyone not adorned in the color of the day, enjoy your “Irish roots”.

And perhaps a bit of Irish Luck will be yours!!!

As you can see below, should you be thinking of buying a house, you have a bit of luck waiting for you.  Why lucky?

Though the Fed raising rates doesn’t typically directly impact mortgage rates, the health of the financial market that causes such rate changes does.  When money gets “tighter”, i.e. more expensive, this happens throughout every lending vehicle: car loans, business loans, credit cards and even home loans.

Thus, you be lucky as the Irish to buy now as rates still are historically very very low.

Don’t Let Your Luck Run Out [INFOGRAPHIC]

Don’t Let Your Luck Run Out [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.
  • Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!
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