WHAT IS HAPPENING IN THE BOSTON AREA HOME MARKET THIS SPRING?
If you had been paying attention to any media source last year, you would have been aware that the Greater Boston real estate market was very active to say the least. If you were a buyer or seller in the Greater Boston real estate market last year, you know just how active it was. Here we are at the beginning of a new year, the start of the fabled spring market, so how are things looking for this year?
buying a home in MA,
buying a home,
Greater Boston Area,
greater boston real estate market
If your goal in 2016 is to buy a home in the Greater Boston Real Estate market, you'll need to keep this info in mind:
- The Federal Reserve increase in interest rates was a very eager .25% and has had little to no effect on mortgage rates. Current rates are hovering near the same values as those we saw at times last year. The current thirty year fixed rate is at 4.11%, the current 15 year fixed rate is at 3.38%.* It is not anticipated that the rates will increase greatly over the first half of the year so the Fed increase should not substantially effect a buyer’s ability to qualify for a mortgage in the near future when buying a home in MA.
buying a home,
Like many communities in the Metro Boston Area, Belmont, MA has taken a bit of a hit from the ongoing recession. The question for real estate owners, and for those looking to buy real estate in any community is how well any city or town is adjusting to the downturn and how quickly they will rebound. The capability and flexibility of a community to maintain vibrancy and a multitude of services directly impacts the value of its real estate.
Belmont Real Estate,
Boston Metro West,