Looking to buy a new home often means holding out for the perfect circumstances. Waiting for mortgage rates to drop a few points, inflation to settle, and home prices to drop? If you’re playing the waiting game, you should be prepared to wait for a long time.
Being patient has its perks, but when it comes to buying a house, it’s not always a virtue. Just think, if you had purchased a home this time last year, what would your mortgage rate be compared to now? Sometimes waiting can be to your detriment.
Housing Bubbles and Interest Rates
If you’re waiting for a housing bubble to burst. Don’t hold your breath. Experts don’t foresee that happening in 2023.
Interest rates are still on the rise. On December 14th, the Fed announced a .5% increase in interest rates. According the Washington Post, the Fed is giving all the signals that it will continue to raise interest rates throughout 2023.
One of the factors keeping home prices on the incline is an inventory shortage. According to Bankrate, reports indicate that there are not enough homes on the market to meet demand.
One workaround many Californians have utilized to get past this issue is to move to Nevada. They’ve found that they can get more homes for the money this way, especially regarding new build homes. Plus, it’s a really great place to live.
Zillow predicts that home values in the Reno/Sparks area will increase by 8.4% by the end of May. So anyone looking to make a similar move will want to do it soon to get the best deal.
Are you ready to get off the fence about home ownership?
Now is still an excellent time to buy. And although there’s no housing bubble to burst, Jenuane is offering new competitive prices and rate buydown incentives to make homeownership attainable again. Plus, our Rate Shield program means you can enjoy rates as much as 2% lower than the current rate.
Inflation = Rising Rent
If you’re still renting, inflation is a big motivator to buy a home right now. Inflation means an increase in everything, including your rental price.
How Homeownership Gives Stability
When you buy a new home, you buy yourself more stability. While inflation and rental prices may increase, you will have locked your monthly payments for the life of your loan. So it’s nice knowing that there’s one area in your budget that will not increase with everything else.
Take Advantage of Jenuane’s Exclusive Promotions
Buying a home is an investment in yourself and your future. Jenuane is here with the opportunity to make your dreams of homeownership a reality today. With Jenuane’s Super Deals, you’re able to secure a comfortable monthly payment!