Why Rent? Now is the Perfect Time to Buy a Home in Brooklyn

Buy a home in Brooklyn

Why rent? Now is the perfect time to buy a home in Brooklyn!

Mortgage Rates are Low

Are you looking to buy a home in Brooklyn? Are you qualified? If so, now is the perfect time to buy. Interest rates are at historical lows!

Mortgage rates are approaching the lows of May, 2013. Mike Fratantoni, MBA’s Chief Economist, explains, “The US economy and job market continued to show signs of strength, but weakness abroad and tumbling oil prices have led to further declines in longer-term interest rates.”

Should You Rent or Buy a Home in Brooklyn?

Because interest rates are so low, many are wondering if they should continue to rent or dive into homeownership. These lower interest rates make monthly rent payments about the same as what you would pay monthly to buy a home in Brooklyn.

It Makes Sense to Buy a Home in Brooklyn Now

It makes a lot of sense to buy a home in Brooklyn now since mortgage interest rates, rents and home values are projected to rise in the last 6 months of 2015. Here are a few articles from those who agree that buying now makes sense:

 “If you have been thinking about purchasing a home, the first half of 2015 might be a good time.”  Consumer Affairs

 “As rent increases, it simply makes more sense to buy a home.”  Fox Business News

 “Economists see several reasons why 2015 might be a banner year for homebuying — and not just in San Francisco and Miami.”  NPR

The clock on these low mortgage rates is ticking. Those who wait to buy a home in Brooklyn will be priced out of the market. Home buyers need to move fast if they want to spend less.  “Delayed purchases will only result in higher monthly mortgage payments as prices and rates rise,” says Jonathan Smoke, chief economist at realtor.com®.

If you are renting or if you’ve been waiting to buy a home in Brooklyn, call Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate, at (718) 253-9600 ext 206 or email [email protected] today. Now is the perfect time to buy. Don’t wait and be priced out of the market!

Resources:

http://www.marimarkmortgage.com/blog/refinance/millions-of-u-s-homeowners-in-the-money-to-refinance-as-interest-rates-approach-2-year-low

http://rismedia.com/2015-02-01/expert-ways-to-increase-home-value/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews

http://www.websitebox.com/blog/entry.php?323-Housing-Market-Report-NOW-is-the-Time-to-Buy

http://realtormag.realtor.org/daily-news/2015/02/04/why-homebuyers-need-act-now?om_rid=AAKpWC&om_mid=_BU0pLgB8-LaaY2&om_ntype=RMODaily

http://www.keepingcurrentmatters.com/2015/01/15/buying-a-house-everyone-seems-to-think-this-is-the-time/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

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