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Right now, interest rates are at 3.75%, which is incredible. Many experts were expecting rates to jump a full point by now, but we have not yet seen that. In addition to low rates, FHA has reduced its mortgage premium substantially, which means more people will be eligible for financing.
Buying a Cedar Valley home? Search all homes for sale
Are you on the fence about making your move in the Cedar Valley area? Today we will discuss current market conditions so you can make an informed decision.
Right now, interest rates are at 3.75%, which is incredible. Many experts were expecting rates to jump a full point by now, but we have not yet seen that. In addition to low rates, FHA has reduced its mortgage premium substantially, which means more people will be eligible for financing.
It's important to keep in mind that people are still expecting rates to rise this year, but no one is sure exactly when it will happen. A 1% rise in rates will substantially affect your buying power, so there's no reason to wait if you're ready to move. In our area, there's a lot of tax abatement and tax incentives for new construction, making now an ideal time to build a new home!
Give us a call at (319) 269-2477 or shoot us an email at Amy@AmyWienands.com, so we can begin working for you today! We look forward to hearing from you soon!
