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2016-07-01 12:51:03
Tooele Home Interest Rates Could Go Down

Tooele home Interest Rates could go DownMortgage payment

I thought this would be an interesting article for buyers or sellers that are on the brink of pulling the pin.  Anyone that thinks that world events don't effect the local real estate market needs to read this piece by our friends at KCM that talk about that very fact.

I wont bore you with the mechanics of why Britain leaving the European Union could cause interest rates in the U.S. to go down. I will just say that the professionals say that that is so, and I believe.

I will say that if you are a home buyer, it means the possibility of some fantastic interest rates, which means smaller house payments. If you are a seller it opens up your buyers pool considerably. More buyers means more competition which generally means less time on the market, fewer concessions and more money for you at the closing table.

Here is what KCM had to say:

 

 

BREXIT: What's the FIXIT for U.S. Home Buyers and Sellers?

BREXIT: What

Now that much of the dust has settled and the panic has waned, let's take a look at what impact Britain's exit from the European Union may have on the U.S. housing market.

The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last several years. Contrary to what many experts believed, rates have remained low throughout the first half of 2016.

Possible impact of Brexit on mortgage rates?

In a recent article, the Washington Post explained:

'Brexit has spawned the recent bout of volatility in global financial markets. That has anxious investors scurrying for safety -- and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest rates.

That all translates into ultra-low mortgage rates for American households. And with Britain voting for Brexit, they could go even lower.'

However, the lower rates caused by Brexit may be short lived as Trulia Chief Economist Ralph McLaughlin pointed out in a recent post:

'While the departure of the UK from the European Union has driven down the 10-year bond, and thus mortgage rates, we expect them to rebound later in the year as uncertainty over the economic consequences of the departure lifts.'

Bottom Line

Rates are already at historic lows. The UK's exit from the EU almost certainly guarantees they will remain low (and possibly go lower) over the next few months. If you were thinking of buying your first home or trading up to the house of your dreams, this may be the time to act. The cost of money may never be better for a potential buyer.

Plus the cost of these Tooele homes for sale will never be this inexpensive to buy.

Need help? Want to know how to properly price your home? Need to prepare a disclosure statement?

Let me do that with you! Call me, Berna Sloan 435-840-5029. I know why Tooele home interest rates could go down

 

 
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