Mortgage rates are holding low. If you’ve been paying attention to rates, they’re still very comfortable for home buyers. This encourages a few things. When we see lower mortgage rates, we see home prices rise and more home sales. This year in February, the National Association of Realtors (NAR) showed a slightly different thing though. Home prices rose for the 84th consecutive month of year-over-year gains, but home sales fell 1.8 percent when compared with a year to the sales the year before. The problem, experts believe is home buyers who have been on the fence about making the leap weren’t aware that the rates have fallen. They speculate that if they did know, home buying would increase before the rates go up again, while they are still low.
Interestingly, just a little inflation creates more purchases, because they want to get in before prices rise more. The problem is that while the Fed tries to keep inflation at 2 percent annually, the economy is changing and that’s hard to reflect in economic models. One big issue is focused around gig workers. More people are self-employed.
“The job market has consistently surprised the Fed,” Bloomberg News reported. “America’s unemployment rate has fallen to less than 4 percent from 10 percent in 2009. Despite the decline, employers have found plenty of workers to hire, generally keeping job gains strong, and inflation has responded only weakly.”
Rates were expected to hit 5 percent and keep rising in 2019, but some people are still talking about seeing rates in the 3 percents. In March, the 30-year fixed FHA had fallen to 3.688! One thing to keep in mind as a homebuyer though is that this market is completely unpredictable. Bloomberg News called it “the new unpredictable,” but Professor John Kenneth Galbraith might have put it best in saying, “The only function of economic forecasting is to make astrology look respectable.'”
So, buyers would be wise to take advantage of the obvious, current low rates. Those are here and real now. They could go up again at any time, but if rates drop significantly after buying a home at the current rates, refinancing is always an option.
Are You Thinking of Buying a Home in Dubois County?
Use our site to search homes for sale in Jasper, Dubois, Spencer, Martin and Davis counties and all of our surrounding areas. Unlike the “big name” sites out there, at Sell 4 Free Welsh Realty our site is directly connected to our local MLS and is updated with new homes every hour. By signing up for New Listing alerts you can stay on top of the newest homes for sale and get price change alerts so you can stay ahead of other buyers and beat them to the hottest deals!
Start your Home Search now
Popular Jasper Indiana Home Searches:
- Homes for sale Evansville IN
- Southern Indiana Homes for Sale
- Santa Claus Indiana Cabins
- Homes for sale Newburgh IN
- Homes for sale Dubois County Indiana
- Homes for Sale Jasper Indiana
- Homes for sale in Huntingburg Indiana
- Ferdinand Indiana Homes
- Farms for sale in Indiana
- Homes for sale Santa Claus Indiana
Newest Homes for Sale in Dubois County
View the newest homes listed in Dubois County in the last 10 days:
3016 Leslie Drive Jasper, Indiana
3 Beds 2 Baths 1,624 SqFt 0.440 Acres
Listing courtesy of Cathie Spalding from FC TUCKER EMGE REALTORS.
1336 Jackson Street Jasper, Indiana
4 Beds 3 Baths 1,761 SqFt 0.180 Acres
Listing courtesy of Steve Lukemeyer from FC TUCKER EMGE REALTORS.
2801 Brosmer Street Jasper, Indiana
3 Beds 3 Baths 2,572 SqFt 0.482 Acres
Listing courtesy of Dara O'Neil from FC TUCKER EMGE REALTORS.