There is no doubt that this is a great time to buy a home
Purchasing a home has remained affordable, primarily because of the extended period of historically low interest rates that has continued for more than two years. A wide variety of properties from which to choose and affordable prices sweetens the opportunity for homebuyers.
The general public agrees, and so does the secretary of the U.S. Department of Housing and Urban Development. Consider these recent reports:
- According to a recent Gallup poll, 69 percent of Americans believe that now is a good time to buy a house.
- Responding to a recent New York Times/CBS News poll, nine in 10 Americans said homeownership is an important part of the American dream.
- The National Association of Realtors' ninth housing pulse survey showed that the overwhelming majority of Americans (72 percent) say that buying a home is a good financial decision. Almost two-thirds (64 percent) say that now is a good time to buy a home.
- During a recent interview broadcast on CNN, Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, urged Americans to purchase homes. He said, "In the long run, it is a good time to become a homeowner because it's so affordable today compared to where it's been for generations."
SOURCE: Weichert Insights
OMG.
I am actually seeing some 5-year ARM's in the 2% range!
That's insane!
I'm tinkering with refinancing my home to a 15-year conforming loan. It's about 3.5% right now!
Barbara...your post rings true. We are reminded that anything purchased in today's Real Estate market is priced to sell. How can you lose?
So true Barbara...and with the "debt ceiling" looming in the not too distant future...it means buy TODAY