Today’s housing market is great for buyers and sellers

Now is a great time to buy and sell a home for so many reasons! As we have seen home prices and mortgage rates drop over the last few years, it’s been a great opportunity for many Americans to take advantage and buy their first home or begin purchasing for investments. Home prices are rebounding and they are currently back to where they were in autumn of 2003. In addition, mortgage rates are beginning to inch back up from all-time lows of 3.32% ┬áin 2012, and right now they are at about 3.7% for a 30 year fixed mortgage. The Mortgage Bankers Association predicted that by the end of 2013, mortgage rates would climb up to 4.4% in Quarter 4. This is a great time for home owners to list their house not only because we are seeing more buyers take advantage by locking in these great rates but also because there is such a lack of┬áinventory of houses on the market in lower Fairfield County!

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