With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
This week, Terry addresses the slight bump in mortgage rates and how this is affecting buyer behavior… in what some are seeing as a factor pushing the housing market up. But interest rates aren’t likely to rise at too fast a pace so mortgage rates will likely stay in the 4% range on 30-year loans for 2015, which looks like free money compared to rates of 16% and more in decades past.
The current market is also bringing back “boomerang buyers” who are coming back into the housing market in increasing numbers and are contributing to solid demand and steady prices. In addition, rents have been rising and rental demand is strong – but renters realize that they get much less bang-for-the-buck with rentals and tend to bounce around from home to home, so many are looking over the fence at the pluses of buying versus renting.