clearly see the effect of higher interest rates, does this mean that if one is shopping for a home, they should make a quick decision now? That I cannot tell you. I can tell you is that if one is thinking about purchasing a home, they should get qualified now to see what their options are. With the surety of rising interest rates, it may make more sense to purchase now rather than to try to save more for later, because it may not be possible to out-save the pace of home values going up coupled with higher interest rates. I also would strongly advise anyone who was pre-qualified for a mortgage loan and has not yet bought a home, to review the pre-qualification to make sure that the estimated figures, purchase price and interest rates are on target. It is not pretty to fall in love with a home just to find out that one cannot close because of market changes.
Find Ann’s real estate column weekly in The Monsey View.
Ann Zeilingold
FM Home Loans
Office:
Vice President
1609 Route 202 Pomona, NY 10970
Mobile:
845-354-9700 914-260-9000 ann@annzeilingold.com
March 15, 2017 / THE MONSEY VIEW / 137 www.themonseyview.com / 845.600.8484