The Federal Reserve announced after its May meeting that they believe recent lower-than-expected economic numbers are an irregularity and not a sign that the economy is slowing.
So what does this mean for buyers?
Well, it means that for now interest rates are not going up on home loans. The key words in that sentence are "for now," because when the Federal Reserve meets again in June there is a good chance -- 67% according to experts -- they will raise interest rates if current trends continue.
If you are starting to look for a home right now you may be feeling anxious. Rates are rising and home inventories are low, which means there's less to choose from and more competition for what is out there. It's a seller's market, and making the right offer can be the difference between locking in your rate now or having
That's where I come into the picture. If you are looking contact me and I'll walk you through every step of the process, from getting pre-approved for a loan to making a strong offer that sellers will take seriously.
Give me a call today and let's talk. No pressure, no hassle, just straightforward real estate advice.
Licensed in VA