Homebuyer Alert: Should You Buy NOW or WAIT?

Homebuyer Alert: Should You Buy NOW or WAIT? // Is not a good time to buy a home or should you wait until home prices decrease? Should I buy a house in 2021? This is the most common question I get!

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For the latest real estate market 2021 update for the 2021 housing market, the average 30yr fixed rate mortgage is currently around 3%. One year ago, mortgage interest rates were around 3.5%. And a decade ago, the average 30-year fixed rate mortgage was around 5% — and a decade before that it was about 7%. However, mortgage rates have been increasing lately from the record low of about 2.65% set at the beginning of January this year. Some experts are predicting that rates will increase this year. For example the Mortgage Banker’s Association is forecasting that mortgage rates will increase to 3.4% by the end of this year. If mortgage rates increase more than that will it cause a housing market crash 2021?

Part of the reason for the recent rise to mortgage rates is due to the 10yr US Treasury yield increasing significantly over the past 6 months. Another reason is worries of stronger economic growth that may cause inflation to increase.

To give you a quick housing market update, Corelogic just released a report today that said home prices in January experienced their first double-digit annual increase since November 2013 with a 10% gain. This is bad for home buyers. However, they predict that home prices will increase at a lower rate this year of 3.3%.

If you do buy, have long term time horizons, a stable job, an emergency fund and make sure you can easily afford the mortgage payment.

Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble or do you think the housing market 2021 will continue to surge?

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***
Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

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Видео Homebuyer Alert: Should You Buy NOW or WAIT? канала Jason Walter