Some have thought of it. Some are doing it. Is it really a good idea? We’re talking about waiting for interest rates on home mortgages in Laguna Niguel to come down further. And it’s the million dollar question.
Should You Wait?
According to Yahoo, “One problem with historically-low mortgage interest rates is that they have nowhere to go but up. And a few months ago, that's exactly what started to happen.”
Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.
It’s not only happening in Laguna Niguel, but it’s happening nationwide. Interest rates are on the rise. And though they continue to climb, we are still seeing low interest rates. They just seem higher, because we are coming out of a historically low interest rate period. At the same time, it’s still unlikely that we will see interest rates this low again in our lifetime.
Add Prices to the Mix
Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.
As interest rates have climbed, so have home prices. As they continue to rise, home buyers will want to take note and act. Home prices today continue to be more affordable than they have been in years.
Though they have risen, home prices and interest rates are still remarkably affordable options to renting. In many areas across the nation, rents continue to rise along with home prices.
Purchasing a Larger Home
The same holds true if you are planning to sell your home and purchase a larger, upscale home. With the current prices and interest rates, you will be in a position to purchase so much more than you will as interest rates and home prices continue to rise. It’s the perfect time to “buy up” in Laguna Niguel.
Wathen Realty Group prides itself in helping our clients to find that perfect home in Laguna Niguel and surrounding areas that they have been looking for.
