Right now is a really good time to buy a new home. Interest rates haven’t been this low since January of 2018. It’s probably a great time to lock in a mortgage rate if you’ve been home shopping. Call your lender and ask what kind of rate they can get for you this week. Mortgage applications for home purchases are seven percent higher than they were a year ago at this time because the rates are so great right now. In just one last week, mortgage applications increased by 2.4, as interest rates continued to fall.
Currently, if you qualify for a VA-backed home loan, you could see an interest rate of 3.875 percent for a 30-year fixed-rate. The APR for the same 30-year fixed-rate VA loan is just 4.186 percent. A normal 30-Year Fixed Rate mortgage interest rate is 4.000% percent right now. The APR of that same loan is at 4.094% APR.
Interest rates have been dropping in part because investors have turned to safe-haven bonds over China trade disputes. There’s no way to know when they might swing back up, but officials at the beginning of the month anticipated a slight increase. Reportedly, there are no plans to significantly lower rates though, so this might be the perfect time to call your lender. The sooner you can lock in a rate, you’re probably better off!
We Are Your Indian River County Experts
Please consider our team at Alex MacWilliam Real Estate whether you’re selling your home or looking for a new one. We love helping make people’s dreams come true. Plus, we’re experts in this area. Want to find a place to golf in Vero Beach? Just ask one of our skilled realtors while touring your potential new house! Our realtors will try to answer any questions you might have about amenities you can find nearby. Also, check out our Vero Beach relocation guide.
Feel free to use our online search tool to find Vero Beach real estate from your device now. Plus, while you’re at it, also check out:
- Open houses in Vero Beach
- Featured Vero Beach real estate
- 55+ condo communities in Vero Beach
- Single family homes in Vero Beach with acreage
So, if you are considering relocating to Vero Beach, please contact us today. Our real estate team is extremely knowledgeable about the area and can find the perfect home for you. Call us at 772-231-6509 to talk to a Realtor® in Vero Beach, FL today. We can search the MLS and find your dream home.