DALLAS (WBAP/KLIF News) – This is a great time to be in the market for a new home or to refinance your current one.
A company called Black Knight has recently assessed the market after interest rates began to settle below three percent. What they found was that more than 18 million homeowners nationally have a great incentive to do one or the other.
With interest rates at historic lows buying a new home now may allow buyers to get more house for the money. Black Knight says “the average home buyer can afford nearly $32,000 more home than they could at the same time last year, while keeping their monthly payment the same.”
Refinancing at current rates can realize a monthly saving of $289, according to WFAA.
The other side of the coin is that these factors are also driving home prices up. Still, opportunities for refinancing have never been been more affordable and mortgage rates may never be this low again.
