Judith Sutton ABR CRS IDS PMN ASP IAHSP SRES GREEN
Judy@JudithSutton.com 908 803-0472
EXPECT MORE
MORTGAGE RATES CHANGE THE GAME
Home Buying Affordability
When rates go down, it opens the door to new opportunities. The trick always is: When.
When rates trend downward it creates a more favorable atmosphere for the buyer- either to buy more house or save significantly over the long term.
Reduce rates enable buyers to secure a mortgage at a lower rate, of course, which then can reduce their monthly payments or allow them to buy a more expensive home. This increase in affordability tends to drive more buyers into the market that can then drive demand higher and push home prices upward.
Overall, for many buyers, the benefits of a lower interest rate can outweigh any potential rise in a home’s price.
Also, lower rates are beneficial for first-time buyers if they may have been priced-out of the market, and can mean smaller down-payments, and smaller monthly payments.
Timing the market: Is now the best time to buy?
Predicting the future of interest rates is difficult; but there are strong arguments for acting sooner rather than later.
- Housing inventory remains fairly low. So, competition for desirable homes is high. Buyers who lock into a lower rate now can secure a better deal before rates climb again.
- Even if rates fall again, buyers have the opportunity to refinance their mortgage to an even lower rate
I would advise homebuyers to still be cautious not to overextend themselves financially. Buying a home is a major commitment, so keep in mind your other costs associated with the home such as property taxes, insurance, all types of maintenance, upgrades and interior design.
Need help with proceeding with careful and thoughtful planning? Call me. Along with my professional staff of advisors and colleagues, I will be able to help you in your most important and exciting search for your next new home! Call me: 908 803 0472
By incorporating my personal attention and guidance into the marketing strategy I aim to provide you with
an Exceptional Selling Experience
while ensuring that your property receives the exposure needed
to attract buyers from anywhere
Your Local Real Estate Connection
Get a positive, helpful partner for buying or selling your home:
Trusted resource for answers about the process
Innovative marketing strategies
Expertise about neighborhood features
Ability to target home searches
Strong negotiation skills
Support through the closing and beyond
Why would you settle for anything less?
Adding value for my clients and loving where we live!
Judy@JudithSutton.com
COLDWELL BANKER...GUIDING PEOPLE HOME SINCE 1906
908 803-0472
"...the right relationship means everything..."
SERVING THE SOMERSET HILLS AREA ONE CLIENT AT A TIME
Service & Experience
since 1983