Interest rates are at a historic low. In fact, they’ve been on a slow decline since November of 2018, resulting in some of the best mortgage interest rates we’ve seen in a while!
In fact, these are the lowest they’ve been since January 2018. If you’ve kept up to date on the Raleigh real estate market, you may have encountered conflicting information about whether or not now is a good time to buy a home. We’re here to set the record straight.
Now is a Great Time to Buy a Home
Right now, the average mortgage interest rate is 4.12%. In 2018, that average rate was about 4.6%.
Market experts at Freddie Mac predict that rates will rise back to 4.6% by the end of 2019. This is sending would-be homebuyers a strong signal: now is the best time to buy a home in the greater Raleigh real estate market!
Lock In Those Low Interest Rates
If you buy a home in Raleigh now, or before the end of the summer, you’ll lock in these historically low interest rates. Your mortgage interest rate has a huge effect on your monthly payment, and the lower they are the less you’ll have to pay over the long run!
So, if you’ve been thinking about about buying a home in Raleigh, now is the best time to act. With high inventory and low mortgage rates, you stand to make the deal of a lifetime.
Allow Linda Craft & Team REALTORS® to Help
Our team is comprised of professional real estate agents with years of experience helping buyers navigate this unique market. Take advantage of our expertise, in-depth market resources, and local knowledge to find the home of your dreams in the greater Raleigh area.
Have a question about your mortgage or the home-buying process in general? Please give us a call. We’re here to help you navigate a successful transaction in Raleigh.