You have probably heard this from many Real Estate Agents, Lenders, ect. You are probably thinking that these professionals are just saying this because they want to sell you a house, right? Well, look at these facts and then you can decide for yourself!
In a recent article by Dr. Steve Sjuggerud, from The Daily Wealth, he states that it is the best time in history to purchase a home, for a couple of reasons. One, mortgage rates are the lowest since the 1900’s! Yes, I said 1900! Here is the data from Global Financial Data: In 1900 the rates were just above 5.00%. Today they are around 4.35%. The only other time in history it came close to today’s rates was just after WWII. During that time when rates hit the bottom is when the greatest postwar boom in housing prices occurred.
Homes are more affordable than ever.
Looking at the 40-year history of the Housing Affordability Index, houses are more affordable than they’ve ever been. This index takes into consideration; income, housing prices and mortgage rates.
So, based on these facts, isn’t it safe to say that NOW is the best time to buy a home? If you need help with this, you can contact me, of course!