Predicting the perfect time to buy a home is a lot like predicting the weather. Both are tough to time with absolute certainty. But, if you know what conditions to look for, you can increase your odds of success. As we move through this year’s home buying season, a perfect storm of frightful financial data is brewing. Acting now could save you from getting caught in the downpour.

Dark Skies Ahead

Here are the three fronts of the home buying perfect storm. Ignore them at your own peril.

1. Interest rates are still lower than they’ve been when we look back over the decades. But these rates have been slowly rising for the past 12 months now and will probably continue to do so.
2. Home prices have also been rising. According to CoreLogic, home prices have risen by over 12% from a year ago and they’re still going up.
3. Wages are virtually flat and are having a hard time keeping up with inflation. If your paycheck seems to be stalled in neutral, you’re not alone.

A Bright Spot in the Forecast

So with rising interest rates, rising home prices and stagnant wages, how can you take advantage of the calm before the storm? By purchasing your home now before the skies darken!

Locking in at today’s relatively low mortgage rates before they continue to rise to their historical average can save you thousands of dollars in interest payments over the course of a home loan. And, using that low-interest mortgage to purchase a home today before home prices further rise is also a financially savvy move. Having the courage to protect yourself from the approaching home buying perfect storm will pay dividends for you and your family for decades to come.

To learn more about all the great loan options from Carlson Mortgage, call us at 314-329-7314.

Posted by:  Carlson Mortgage – a St. Louis mortgage broker.  Our Home Loan Experts can be reached at (314) 329-7314 seven days a week. Let us be your source for some of the lowest mortgage interest rates in St. Louis on conventional, FHA, Veterans (VA), USDA, Jumbo and HARP 1.0 and 2.0 loans. We have 10 years of experience providing mortgage services in St. Louis that are tailored individually to your unique needs and to your financial situation. We speak English, Spanish and Russian. Call us today to inquire about interest rates or if you have any mortgage questions. 

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