Current Mortgage Trends 2013 This year would be very satisfying for all the homeowners as the housing market will observe a tremendous increase in the number of potential buyers.
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Let us have a look at the mortgage trends for the year 2013: Experts say that there would be rise in the home prices. This is good news for all the homeowners as they will regain equity in their homes and thus will get an opportunity to refinance their home loans and cash out some of the equity.
Finance and economical experts have also predicted that borrowers looking for low-payments mortgages might be charged with mortgage insurance for the entire life of the loan as a result of the FHA loans losing their appeal once again.
If you are planning to buy a home this year, be ready for tough competition, since the supply of homes for sale is less than the demand of buyers leading to discrepancy between the demand and supply of homes.
Therefore, it is recommended to keep options ready if you are really looking forward to buy a home in couple of months. If you are a first time buyer, make sure that you do a complete homework about the market conditions and only then move ahead with your buying.
Though the market is turning in favor of the home-sellers, the homebuyers need not worry as the home prices are still very attractive.
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