The summer housing market is heating up
What to expect and how to prepare
If you're on the fence about buying a home, don't wait! The Home Buying Institute just released their Summer 2019 Housing Forecast. Here are the main takeaways:
- Home sales are likely to increase.
- Low rates, low unemployment and wage growth could boost the housing market.
- Home prices are rising in many U.S. cities.
So what does this all mean for you? Here are some tips for winning this hot homebuying season:
Take advantage of our low rates
The experts at Freddie Mac predict mortgage rates will remain below 4.5% through the summer. Locking down with a low, fixed-rate mortgage could shield yourself from potential rate increases in the future. Guaranteed Rate has low, low rates to help make homebuying nice and easy.
Don't sit and wait around
While forecasts are looking good for mortgage rates in the coming months, the forecast isn't as sunny for home prices. In some of the hotter real estate markets, housing prices are rising steadily. So avoid higher costs and buy sooner rather than later.
Know your down payment options
Many people believe they need to make a down payment of at least 20% to qualify for a mortgage, but they don't. Between FHA loan programs and down payment assistance, there are plenty of options for people looking for a low down payment. Guaranteed Rate offers tons of low down payment options and even 0% down payment options in some cases.
Don’t wait until the sun sets on summer to find your dream home. Explore your loan options!
Guaranteed Rate is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.