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This is a great time to buy a personal home, because of low mortgage rates and lower home prices. There are a number of sources reporting that mortgage rates and home prices that are going to remain level. But, you need to do research and use investment advisors, including a Buyer's Agent, before you decide to invest in real estate. Also, talk to a mortgage loan officer about the higher mortgage rates and required assets you need to qualify for the purchase of an investment property.
Just so everyone knows, interest rates arent linked to the stock market. The Fed raises and lowers interest rates in accordance to how much money is flowing around in the economy. When the recession really kicked in a few years ago and a lot of money was lost, the government dumped $300+ billion into the economy and lowered the prime rate to 0% Now that we are seeing the economy begin to recover (and by economy, I dont mean you and I, I mean GM, Bank of America, Apple, etc) the Fed will raise interest rates to stem inflation and because the banks get their money from the Fed, the cost to loan out money gets passed on to borrowers and home buyers pay more.Bam. Economics 102.
The rates are at almost an all time low. If you can get approved for financing it would be a great time to buy. Owning a house is one of the pillars of the American Dream and due to recent economic trends it would be a great time to purchase. Especially if inflation rises. Let me know if I can be of any help. Best, Josh.
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