Mortgage interest rates on 30 year fixed rate loans are at around 4.5% as we move toward the beginning of Spring. If you have fair to good credit, steady employment and income, and a desire to stop handing over rent to your landlord, now is the time to buy a home or condo!
“Interest rates on mortgages have been on an increase after a surprise 2017 where they mostly stayed under 4%,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “The increase in rates has created urgency in the market for buyers that have been waiting to purchase. Even if you’re just starting to think about buying, you can still often move quickly using 1 of DC’s buyer assistance programs.”
Our Spring preview for NW DC includes homes that have been on the market for more than 30 days. “After 30 days, the sellers of the properties are usually starting to experience anxiety, and many are already talking to their agents about ‘what to do’,” continued Gerard. “It’s the right time for your buyer agent to push for incentives like credit from the seller towards your closing costs. Homes that have been on the market more than a minute are always your best option.”
Want to pick up some fast, free home buyer education? We have free group Home Buyer Workshops twice a week, every week. Here’s the schedule:
Here’s the roll call of Northwest homes over 30 days old. The list changes daily. Call/text 202.759.4114 for help!