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Lower mortgage rates are propelling a mini-boom in the U.S housing market. Existing-home sales climbed nearly 12% in February from the month before, according to the National Association of Realtors.
"If buyers were hesitant last year, this environment has lured them back into the housing market," says Michelle Meyer, a U.S. economist with Charlotte, N.C.-based Bank of America.
In the past 19 weeks since November, the rate on a 30-year mortgage dropped from 4.94% to 4.06%, the fastest decline since 2008. That’s a big deal for prospective homebuyers.
For example, on a 30-year mortgage for a $200,000 home, the monthly payment went from $1,058 in November to $986 in March; big savings!
Read on HERE:
Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.
Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.