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Last updated on December 26th, 2022 at 09:34 pm
Since the onset of the pandemic the current real estate market has seen the lowest interest rates.
As the market gets back into a new norm, current home buyers and home sellers are wondering if the rates will rise and will it affect the home’s value?
As the rates are still near historic lows, homebuyers can lock in on this deal. The rates are as low as they might go for the rest of 2021.
There are projections showing that mortgage rates will increase to an average of 3.5% through the end of 2021.
Homebuyers can take advantage of the Power Purchase Program. Where they can lock in their rate to take advantage of the historic lows while they are still searching for their dream home.
If homeowners are having challenges with their funds or their credit scores or other hurdles and are worried about missing these low-interest rates can relax because the predictions don’t show any significant change in the near future.
Federal Reserve is managing the economy by keeping the rates on the lower end to avoid the risk of stalling the recovery while the new variants of the coronavirus strain are showing up and are already putting pressure on populations, public health, and economy.
Reference Source: Tapinto.net
