The first week of the new year has brought a treat to those looking to purchase a home—lower mortgage interest rates. Mortgage rates have fallen to their lowest point in the past three months, with the average rate for a 30-year fixed rate mortgage being 3.69%.
This decline in interest rates goes hand-in-hand with homebuyers’ current level of confidence in purchasing a home. According to the Home Purchase Sentiment Index—a monthly survey created by Fannie Mae—buyers are experiencing increased confidence in purchasing a home, with the primary factor being the favorable interest rates that are currently being offered. Fannie Mae uses this survey to predict the future of the housing market, and has predicted that the United States will benefit from a healthy housing market in 2020.
Looking to Purchase a Home? We’re Here to Help
If you are in the market for a home in South Carolina, the Boger Law Firm is standing by to assist you with any and all of your real estate needs. Whether you are looking to move into a new home or interested in purchasing an investment property, our real estate team is committed to providing quality representation every step of the way. To speak to a member of our real estate team about your purchase or to schedule your real estate closing, fill out an online contact form or call (803) 252-2880 today.