With Rates On The Rise Should I Buy

With Rates On The Rise Should I Buy

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! 

HAPPY BUYING!


Manuel Pantiga Headshot
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Phone: 212-945-8653
Dated: July 3rd 2015
Views: 795
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847 Morris Park Ave
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