Key economic indicators, such as the 10-year Treasury Note, consumer price index and unemployment figures, are giving consumers a reason to be optimistic about the real estate market over the next two years.
Americans may be able to expect to continue enjoying favorable economic conditions, which will also carry over into housing.
Freddie Mac expects home sales to increase to 6.1 and 6.2 million in 2020 and 2021, respectively. House price growth will continue to slow down over the next couple of years, as well.
But there’s more good news for aspiring home buyers and individuals thinking about refinance: mortgage rates are likely to remain low, according to Freddie Mac.
These ideal conditions are providing plenty of motivation to families thinking about buying their first home. If you live in the Seattle/Renton/Tacoma areas, we hope you’ll connect with us to learn more about our FHA and VA loan programs.
Both programs are ideal for first-time buyers as they both feature flexible guidelines.
Under the FHA loan program, buyers who worry about their credit score or ability to offer a large down payment can rest easy. An FHA loan is designed with you in mind.
The VA loan, which is insured by the U.S. Department of Veterans Affairs, provides 100 percent financing and doesn’t require mortgage insurance.
If you are interested in learning more about these loan programs, contact us today.