GREENVILLE, Jan. 11, 2022 (GLOBE NEWSWIRE) — Between August 2020 and August 2021, home price growth increased at a faster rate than any other period in US history. The competitive buying market has intensified during the COVID-19 pandemic, as homeowners become increasingly resentful of their existing properties. For many, patio space, home offices, and remote locations are high on their wish list.
The good news for homebuyers is that the market is showing signs of slowing. According to the latest S&P CoreLogic Case-Shiller Index, the gold standard in residential real estate prices, the cost of home prices in the United States increased by 19.5% between September 2020 and September 2021. This represents a 0.3% decline in price growth and is the first decline in the past two years.
Today’s Mortgage Rates, one of the leading mortgage specialists that helps homebuyers find the best lenders with the best interest rates, said that although the decline appears to be small, the vast majority of the 19.5% increase occurred during the spring and summer when The market was very competitive. In September 2021, the rise was only 1.18%, and it looks like price growth will continue to slow over the coming months.
Below, we take a look at why it’s a good time to buy, and why in this competitive market, it’s important to seek professional mortgage advice:
Will home price growth continue to slow?
House prices accelerated at a strong pace during 2020-2021. Reaching record levels, this is unlikely to continue. Instead, we are likely to see a slowdown in price growth, despite some growth expected.
Mortgage rates Experts say today that many industry forecasting models predict varying rates of slowdown. Some expect prices to rise by 13.6% between October 2021 and October 2021, while others say it could be much lower, and more in the region of 1.9% to 3%.
The slowdown in house price growth is positive news for many who want to buy a new property. Prices may continue to rise, but the market frenzy should start to subside. This will give potential new buyers the opportunity to check their financial position, explore the market and make the right decision.
If you are eager to move into a home, you should speak to mortgage rate professionals
According to today’s mortgage rates, for those who have found a property or are eager to move into their homes, the advice is to speak to mortgage rate professionals. With the uncertainty about how much home prices will grow over the next year, it is more important than ever that you find the right mortgage lender that offers you the best possible rate.
Today’s Mortgage Rates Scan the market for the best mortgage rate options available to you. Their easy-to-use digital platform and extensive industry knowledge provide home buyers with what they call the “best mortgage experience in the industry,” which includes all major mortgages and all lender styles that fit your requirements and purchase conditions.
Finding the lowest interest rates that can save you hundreds of dollars a year, and thousands over the life of your mortgage, can make a huge difference in the current market. Today’s mortgage rates connect you with the right options, offer a quick quote and complete application options, and are backed by a team of dedicated mortgage professionals who can advise you and guide you through the process.
About today’s mortgage rates:
Today’s mortgage rates are owned by Resource Financial Services, Inc. It is a privately owned mortgage company with the goal of providing the “best mortgage experience in the industry”. We place great emphasis on educating our clients, so they understand their best mortgage option, providing clear communication and access, while simplifying the process. Learn more at: https://www.mortgage-rates-today.com/