If you are thinking of buying or selling a home in Wellesley & Metrowest Boston CT, your best opportunity could be right now... in January! Yes, it is cold outside, and rainy, but mortgage interest rates are most likely at their lowest levels for 2014.
The interest rate on a 30 year mortgage, if you were to obtain your loan today, is 4.51%...but predictions show the rates rising by year-end to the 5.75% level. It is even better for the 15-year mortgage as it is at 3.56% today. Getting into the housing market early this year is going to make all the difference in the world when it comes to costs. Rates like this make it feasible for Wellesley & Metrowest home buyers and refinancing homeowners, to eventually live mortgage free!
However, with the Fed announcing the pull back of the stimulus packages of the past year, the rates will start climbing soon. In addition to mortgages and rates, inventory of homes will be a key component in buyers being able to obtain their desired residence. At present, the Wellesley & Metrowest housing inventory is somewhat low...So homeowners thinking of putting their home on the market, will want to do so now. This way they are guaranteed more of a "sellers market" and a better chance at getting the asking price of their home. Buyer demand and limited inventory does drive up prices...and the peak selling season is NOW!
Take a look at the most recent Wellesley MA Market Update below:
For more information about the wonderful Wellesley & Metrowest homes for sale, or to learn about our unique Team Marketing & Selling plans, give us a call! Our knowledge and experience in the Wellesley area marketplace combined with our client satisfaction program will give you the confidence that Team Lynch Real Estate is the only place to call for all your real estate needs. Let Team Lynch be your guide to all Wellelsey & Metrowest Real Estate.
