Mortgage applications dipped 4.7% after the rates climbed slightly, according to CNBC. At 4.26%, the highest since October 2014, we are asked the "Should I buy now?" question, one that has no simple or accurate answer so lets consider the following:
The Government has been reporting stronger economic data, including unemployment dropping to 5.3% the lowest since 2008, which generally signals a potential increase in mortgage rates...what does that mean?.....GO BUY NOW!!!! Right?....not so quickly.
Inventory has been very low and we are seeing an increase in buyer activity which has lead to bidding wars and all kinds of buying nightmares...so what does that mean?...HOLD OFF!!! Right?
This is just the Tip of The Iceberg...what about Greece? and the Stock Market? and the 10 Year Bond? Should you Wait until the school Year and have less competition?....Stop!
One of the ways that we have helped our buyers navigate through the process is by getting an idea of their personal financial picture. It is impossible, to predict "the bottom" or "the top" consider what our monthly nut will look like and remember that there will never be a perfect time we can simply work with what we have today!
Author:Manuel Pantiga Phone: 212-945-8653 Dated: July 3rd 2015 Views: 795 About Manuel: ...
PantigaGroup Inc. is a full service Real Estate Broker and an Affiliate of Leading Real Estate Companies of The World specializing in The Bronx and Lower Westchester. We are committed to bringing unparalleled service to our clients and customers by providing: a dedicated and energetic team of local agents, innovative marketing tools, and the confidence of having the right TEAM with a proven track record on your side. Let us join your team, we will deliver RESULTS!
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"The Pantiga Group is by far the best realtors I have ever worked with. They are very accommodating and we're very sensitive to my needs as a person as wells a a client. They work very fast in finding both buyers and tenants for my needs. I will recommend this group to anyone who is buying , selling or renting. I WILL ABSOLUTELY HANDS DOWN CALL THEM AGAIN!"