You may have heard about the recent fed hike in interest rates. You may have even heard that they will likely be raising them again in 2017. Is it time to panic? No. Is it time to maybe get off the fence and decide to get your dream home? Possibly.
The Fed Hike
Are you wondering: How should the recent hike in interest rates affect my decision to buy a home? Well, really, the change wasn’t all that big–about half a percentage. On the fence with whether to make the move? Do you just need some assistance in figure things out like getting pre-approved, what to do with your existing home, improving your credit score, etc? If so, perhaps there should be a sense of urgency to get those things taken care of sooner rather than later before the rates go up again. Further, if you’ve been considering refinancing, you probably want to go ahead and do that now too before they raise the rates. That being said, most experts don’t expect the rates to rise above 5% in 2017.
Denver Housing Market
2016 proved to be an amazing year for the Denver Real Estate market. Not only were interest rates low, but the home values in the Denver market were (and still are) hard to beat. That being said, what does that mean for 2017? It means that the inventory is low. It’s a seller’s market and you have to be READY.TO.GO when you find your home or you’ll miss out. So, don’t waste any more time, do your homework now. Collect your information now. Not sure what all you’ll need? Give us a call, we’ll walk you through it step by step.
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