According to MarketWatch just recently, “Sales of new single-family homes rose sharply for the second straight month in June, pushing the sales rate to its highest level in 13 years.”
Wow! Why is this?
“The impact of falling mortgage rates – down 80 basis points this year – is more than offsetting the wave of Covid-induced job losses, which seem to be hitting younger renters rather than would-be homebuyers” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
With the demand for housing high, low interest rates at historic lows and so many living and working from their homes now is the time to buy that new home with spaces that work best for you.
And don’t forget! At new home communities, you can frequently choose from low or no down payment financing options like FHA or VA loans or conventional lending programs. Each can be at incredibly low-interest rates, giving you the most buying power. Combine that with the availability of mortgage interest tax deductions, you might find that owning a new home is less than paying rent!
- Reason one choose from low or no down payment financing
- Reason two giving you the most buying power, choose from low or no down payment financing
- Reason four you might find that owning a new home is less than paying rent!