Mortgage Rates Dropping
Mortgage Rates Dropping
March 11th, 2020Investors everywhere have been feeling the tension and difficulties due to stock market drops. However, if you are in the market of buying a home, this can be a great thing to take advantage of. With the Coronavirus concerns and global trade uncertainties, the 10-year Treasury note (which influences mortgage rates), has sunk to an all-time low of 1.03% last Monday.
Typically speaking, the winter time isn’t thought of as the best time to buy a home. Taking into consideration these drops in the stock market, buying a home right now would be extremely beneficial to your budget. This time of year is also a great time to buy a home because it is usually a faster process than it is in the summer months.
Tax returns are flowing in to your bank account. What will you be spending it on this year? It is easy to find things to spend money on, but have you thought about putting that money towards a down payment to become a homeowner? Depending on your refund, you could combine the benefits of buying now, with your tax refund to have a decent down payment into your future home.
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