Lewis Krauskopf and Michelle Conlin report, in an article published in The Christian Science Monitor, that Mortgage rates are expected to rise quickly in the near term, which could urge potential homebuyers to act quickly.
In Indianapolis, an open house event tends to draw 10 people on a good day.
But after the snowiest winter on record for the U.S. Midwestern city, prospective home buyers were champing at the bit: 45 people came to an open house late last month, according to mortgage executive Greg Block.
Read the article, Mortgage rates: Possibility of hikes stokes housing demand.
Good Time to Purchase a Home
No one can predict the future in absolute terms, but experts in the real estate and mortgage industry are predicting rates to rise and the housing market to continue to recover.
As a result, this could be a good time to purchase a home or refinance your existing mortgage, especially if you’ve been waiting to see what will happen with the markets.