Well the summer is over and the Greater Boston Area real estate market is officially back from vacation. As if most often the case, the summer market is slow as everyone heads out for vacations, summer camps and general leisure concerns. It is the Labor Day weekend that snaps the housing market into gear and the many new listings available in the Greater Boston is evidence of that. So, if you are one of the many buyers who were unable to find your dream home in the Spring or are now entering the market in search of buying a home in MA, the Fall market is beginning. The question is, how to best navigate the market to find the perfect home.
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.
Congratulations! You have found your new home among current Somerville Condos available, at Open Houses Cambridge MA or among the Lexington MA homes for sale. You have fearlessly negotiated your offer and are moving on to home inspection.