If you have thought about buying a property in the last few years and have been sitting on the fence deciding or passing up on good deals, the time has come where the market has turned and it will be more costly to purchase a home.
In one week the Orlando mortgage rates have gone up 1%, as the consumer confidence is growing, the Federal Reserve is making adjustments. Growing interest rates will have an impact on buyers, they will have less buying power which means they will have to lower budget to be able to afford a higher payment. Investor purchases will slow down, allowing inventory level and pricing to be more stable, and with tighter mortgage guidelines less buyers will be able to qualify for a mortgage.
If you are thinking about buying a home do not wait too long before it becomes an unaffordable option. Contact our buyers agency office to learn about your options.