The time to buy a home is now

By Amy Patterson

Time_now_to_buy-01If you’ve been thinking about purchasing a home, now is the time to make the jump – the Federal Reserve is discussing the possibility of raising interest rates in June. While this could mean slightly higher interest rates for borrowers, it could also have great benefits for the economy as a whole.

So while the bad news about this potential rate hike is a slight increase on loan interest, the good news is:

  • For those of you with money in savings accounts, you’ll see a rise in the interest rate you’re accumulating. According to Bankrate, the average interest on savings accounts is a measly 0.44%, which means that Americans are getting almost no incentive to stash money away.


  • Jobs are booming and unemployment is at its lowest level since 2008. "The labor market is improving," said Federal Reserve Chair Janet Yellen. "Some of the headwinds that have been holding the economy back are beginning to recede."


While the interest hike isn’t a sure thing yet, it’s still a safe bet to call your mortgage banker today and lock in that low purchase or refinance rate while it’s available, or apply for a home loan right from our website.


Tags: Insider, Mortgage, Home Loans, Community, Home Sales, interest rate, 100% financing