The current environment makes it a great time to be a home buyer right now. Mortgage rates are at a record low. In addition, last week FHA announced it will be decreasing mortgage insurance premiums. Premiums for mortgage insurance are collected as a means to protect the FHA in case a borrower defaults. The rates have been lowered for FHA loans to .85% from 1.35%. What does this mean for buyers? This will drastically cut costs for buyers using a FHA loan with PMI (mortgage insurance premiums), making a home purchase more affordable. Read more here.
On a smaller scale, the Denver housing market is expected to continue growing. Here the Denver market is ranked #4 out of 10 of the hottest markets. Hosuing sales are expected to increase by 15%.
Considering buying or selling this year?
Contact Elizabeth for any real estate needs. Cell 303-819.73.71. Work 720-314-8352
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