The LatestThe Latest
Mortgage rates holding you up? Why you should consider buying now.
May 11, 2023
Recently, Owner of Nilson Homes and President of Utah Association of Realtors, Jed Nilson did and interview with KSL NEWS on how mortgage rates climb to the highest level in the month of April.
In the interview, Jed stated that, “mortgage rates are more stable now with sellers and builders offering rate by downs, which can make a significant impact in payments, saving buyers hundred to even $1000 a month. Some lenders are also offering a no cost refinance down the road. I can buy now… I don’t love the rate, but I’ll get a free refinance within a few years. Then I get the best price and later I get the best rate.”
He also states that, "people that were on the sidelines that just had determined that they had missed the window and they were gonna be permanent renters… they are coming out in droves.
Because affordability so critical right now, any little change in those interest rates is really affecting people coming out. Taking advantage of the best mortgage rates coincides with purchasing a home quickly. Consider purchasing a MOVE-IN READY NEW HOME.
In the KLS NEW story, the reporter says that "when it comes to home prices, Utah’s median sales price was down nearly 8% compared to one year ago now at $479,000. Last year at this time the sales price was more than $520,000."
