Housing market could get hot
‘Spring is right around the corner.
OK, it’s really a month off. But the signs are here: longer days, melting snow and - if you live in a neighborhood like mine - sprouting For Sale signs.
I won’t be surprised if this spring’s housing market becomes one of the hottest ever. Mortgage rates are still very low, making it a good time to buy a home (or refinance an older mortgage).
Also, many people thinking about buying or refinancing may be spurred to action because they don’t want to miss the boat - they know the Federal Reserve is working hard to push rates up, and is sure to succeed sooner or later.
Clearly, the traditional fixed-rate mortgage is king. Rates on 30-year loans average around 5.7 percent, or a tad less, depending on which survey you use. By historical standards, that’s very low.’
Read more at Personal finance: Housing market could get hot - billingsgazette.com
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