Housing Market

The Difference a Low Rate Can Make

The difference a low rate can make -Paramount Equity®

Since the housing market collapsed in 2008, buying an existing home remains less expensive than it was prior to that event. Not only our home prices lower, mortgage interest rates are at record lows. The combination of the two means that buyers can now afford to buy more house for their money.

Towards the end of 2012 banks have started lending money for mortgages again. While it’s true that most banks have tightened requirements for borrowers, if you have a good credit rating and a down payment, the probability of being approved for a mortgage is very good. Even better, many first-time buyers have discovered that due to low interest rates on fixed term mortgages, their monthly mortgage payments are lower than rent. Even with the home mortgage deduction unsettled as to whether or not it will continue, buyers still find renting more expensive than owning. (more…)

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Is a Seller’s Market on the Horizon?

Four houses with red roofs with graph

Everyone who is watching the housing market has the same question: Is a sellers market on the horizon? The answer is a definite yes.

What is a sellers market? It’s a market condition that essentially means that home sellers can get the price they are asking for on their homes (or sometimes even more than what they are asking).

There have been many market indicators pointing to a rise in home values and an increase in consumer confidence. (more…)

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