Home prices have been rising for three straight quarters. In fact, home values increased 7.3% in the last quarter of 2012 alone. That means we are seeing the bounce from the home value bottom. Combine this information with super low mortgage rates and you have the perfect storm for one of the best times to buy a home in history.
The housing market is recovering as part of the US economy as a whole, and with that recovery is a natural increase in mortgage rates. That means that even as house prices rise, so will mortgage interest rates, providing a double whammy to buying power.
Call The Covenant Team of Service First Mortgage today for accurate and up to date advice on your home financing.