While the Great Recession may have ended, many of its consequences are still in effect. Because of this a lot of Utah residents, as well as those who plan to move to the state, are having doubts about whether to purchase their own homes or continue living as renters.
However, as what many experts say, there is no other good time than now to explore your other options. With so many different home financing services available, plus the temporary halt in the increase of mortgage rates, your chances of finding the most appropriate offer are greatly increased.
To help you realize why you should consider becoming a home owner now, take a look at these reasons:
1. Interest rates have temporarily stopped increasing.
As of today, mortgage rates have ceased to move in an upward trend, City Creek Mortgage cites. However, you cannot also expect them to go down soon.
So while they are still at their all-time lows, it is best you take it as an opportunity and begin your search for a property and a mortgage planner.
2. You can now find more affordable mortgage insurance premiums.
Aside from mortgage rates receiving a temporary reprieve from rising, insurance premiums are now also being offered at lower rates.
Once again, there is no telling when these rates go up again, so it is a lot better to secure one at a rate you can afford than deal with much higher rates later on because of delays in making a decision.
3. Experts forecast an increase in home values.
Experts say that, in the near future, the prices of homes are to go up again, and they see no more reprieve from it. Home values are expected to keep skyrocketing, so while they are still at their historic lows, go find one now and secure a mortgage as soon as possible.
In a nutshell, buying a home is definitely worth the expense, given that you make the right choices. Contact a mortgage West Jordan planner now, so you can get the guidance and advice you need to find the most ideal offer for your budget.