People who have been waiting to buy real estate in Raleigh are going to be house poor if they don’t act fast. Raleigh home mortgage interest rates went up three times in just one day this week. A Raleigh home that you could have purchased a little over 48 hours ago at 4.75% is now 5.25%. A real estate purchase in Raleigh will end up costing you 10% more for your Raleigh home mortgage if rates increase 1%. Buy now or buy less later!
There has never been a better time to buy a home in Raleigh, North Carolina. Housing inventory is plentiful, $8,000 tax credit is still available to qualified first time home buyers, foreclosures, short sales, new construction and motivated sellers make up the Raleigh real estate market. Any home mortgage interest rate below 6% is considered a great interest rate. If you are a home buyer sitting on the fence, now is the time to move on a new Raleigh home before your opportunity is lost.
If you are wondering how much house can you afford then check out our mortgage calulator and pre-qualification section. Our mortgage lenders also offer many specialized programs to ensure that you are finding the best rate and mortgage for your needs.
If you have any questions about home buying please contact me.
Have a great weekend.