Recently the Federal Reserve launched new stimulus measures designed to boost the economy. Mortgage rates fell to new all-time lows as a result.
Anyone thinking about buying a house or refinancing an existing mortgage can confidently do so now. “There’s no reason to think rates will fall much further, according to economists,” states The Washington Post.
Homebuyers are finding that prices are heading up in much of the country, as well. Since that signals a welcome strengthening of the market, it also means that buying now is a sound strategy.
Purchases of new homes reached their highest level in two years during September – the most-recent month from which data is available – reports Bloomberg News. It’s “another sign the industry whose decline was at the heart of the recession is bouncing back,” Bloomberg adds.
Property sales are eight to ten percent higher than they were a year ago, states the National Association of Realtors (NAR). Next year they should continue going up at the same rate, NAR predicts.
Record-low rates make it easier to find numerous attractive homes to select from. Yet remember that we’re certain to experience both higher rates and increased real estate prices in the future.
This morning early I was walking my 2 dogs around the front 7 holes of golf (#2 thru #8). I passed a woman with her 2 dogs as I have on many mornings. As I was by the 5th hole, I heard screams which I thought came from that woman. She was madly calling for her dogs. Then I spotted a coyote running down the 4th fairway with one of her dogs (on its leash) running after it. I (with 2 dogs in tow), ran past the 5th hole. I flagged down a grounds keeper in a cart and yelled for him to go after that dog. He did. As I got to the top of the hill by the green tee on the 4th, I could see the dog running out of the bushes. I got him to come to me, grabbed his leash and hurried back towards where his mistress was calling, yelling that I had her dog. When I got to her she was sobbing, but now she had both her dogs. It seems the coyote had taunted her dogs but she couldn't hold them and they ran after it. She was badly shaken, but all turned out well., It was one of those times when you think, what if that had been me? I shutter to think that.