Mortgage News Daily reports that first-time home buyers increased in June by a “modest percentage”, according to the National Association of Realtors.
In an article by Jann Swanson, first-time homebuyers accounted for 33 percent of sales last month, “the highest percentage since July 2012”. The article cites low mortgage rates and the entry of lower-priced homes entering the market.
With mortgage rates remaining low, amidst uncertainty of how long they will stay that way in lieu of UK’s Brexit, many first time home buyers are asking themselves if now the time to buy is.
If apprehension toward the homebuying process is holding you back, check out our First Time Homebuyer’s guide, where we explain the process, start to finish.
Source: http://www.mortgagenewsdaily.com/07212016_existing_homes.asp