There is a lot of uncertainty and volatility in the world right now and the markets are responding. Much is unknown about the direction the real estate market and economy is heading, but there are some key indicators that tend to play out in mortgage rates. And, at least for right now, these indicators have historically impacted mortgage rates positively.
Performance Indicators That Impact Mortgage Rates
Market stock indexes, oil prices, gold prices, and ten-year treasury yields can all impact mortgage rates in the following ways:
• When the stock indexes fall, mortgage rates tend to improve.
• When oil prices drop, mortgage rates tend to improve.
• When gold prices rise, mortgage rates tend to improve.
• When ten-year treasury yields decrease, mortgage rates tend to improve.
Right now, every one of these performance indicators are acting in a way that benefits mortgage rates. If you are looking to buy a home, right now is actually a great time to do so. Additionally, it is expected the seller’s market will lessen in 2020, which is good for the home buyer.
Spring Is a Good Time To Buy
In addition to other market factors, the fact that Spring has sprung also bodes well for the housing market. This is, historically, the busiest time of year for U.S. home sales. With other things being in limbo right now, investing in a home while mortgage rates are low and other investments are unpredictable may be a very wise investment.
Philly Real Estate
Philly has some of the most quaint, rich, flourishing areas in the state, and offers many different housing options and styles to choice from. The culture continues to grow and evolve as it attracts foodies with interesting cuisine, independent musicians, boutique owners and others. Support local business, get outside, and take in the robust, eclectic culture that is unique to Philly, which has become a hot-spot for all Philadelphians.
Whether you are a creative, analytical, entry-level professional or slightly more seasoned, the Philly environment has something for everyone. Neighborhoods contain rich culture and play host to a wide variety of people and personalities. Not only is the culture diverse, but its offerings are, too, as is evidenced by the myriad shops, restaurants, bars, and nightlife. If you are looking for a vibrant town that caters to young professionals, Philly is a great place for you.
A Good Time To Buy
Take advantage of mortgage rates while things are uncertain. Inventory includes single-family homes, new construction and condominiums. Are you ready to check out your new space? Contact us for more information.