You may have heard about the fed recently raising the interest rates. You may have even heard that they will likely be raising them again in 2017. Is it time to panic? No. Is it time to maybe get off the fence and decide to get your dream home? Possibly.
Denver Housing Market
2016 proved to be an amazing year for the Denver Real Estate market. Not only were interest rates low, but the home values in the Denver market are hard to beat. That being said, what does that mean for 2017? It means that the inventory is low. It’s a seller’s market and you have to be READY TO GO when you find your home or you’ll miss out.
The Fed Hike
How should the recent hike in interest rates affect my decision to buy a home? Well, really, it isn’t much of a change. If you’re on the fence with whether to make the move and you just need some assistance in figure things out, sometimes it helps to make a list. Such as, speaking with a mortgage company about getting approved, what to do with your existing home, improving your credit score. Once you figure out what needs to be done then maybe ma year start working through it so that you’re ready to go, before the rates go up again. If you’ve been considering refinancing, you probably want to go ahead and do that now too before they raise the rates. However, most experts don’t expect the rates to rise above 5%. Click here to read more.