The chief housing regulator for the United States recently expressed optimism for the real estate market having muddled through several years of strife and struggle and that means now is the best time to apply for an Arizona mortgage. Phoenix home loan rates will not be as low as they are anytime in the near future, and may never be this low again. Coupled with the incredibly low housing prices in Maricopa County, this may very well be the perfect scenario that eager potential homeowners have been waiting for.
As the housing market shows signs of life and improvement across the country, those positive indicators are also alive and well within Arizona, especially in Maricopa County. When you have an interest in an Arizona mortgage, it means that you might very well be looking to purchase a home within Maricopa County. If so, then the property values will still be low, but they will soon follow the trend that is being noticed across the country and start to climb.
Currently, U.S. median home prices have increased steadily for eight months straight, which is a strong indicator of overall market health and vitality. While new home sales are still languishing, existing home sales are starting to drive the market back to a healthy level of vigor.
…was hit especially hard when the housing market began to collapse under its own weight, with home values decreasing by as much as one-half and in some cases even more than that. Many homeowners were upside down on their mortgage and unable to keep up with the increasing interest rates they paid. Now, Phoenix home loan rates are about as low as you will find anywhere in the country and as the median home price in this region has remained low, they won’t stay that way for much longer.
Savvy investors and eager homeowners are looking to an Arizona mortgage as a way to increase their wealth through real estate investment as well as a means to find a great home for a great price. However, many factors have had to line up in order for this to be the perfect time to buy a home in Arizona. First, the unfortunate collapse of the value of homes had to occur. Next, the Federal Reserve has managed to keep interest rates at historic lows, meaning it’s cheaper to borrow money now for your home than at any other time.
Lastly, the federal government, through Fannie Mae and Freddie Mac, as well as a few other programs, have provided much needed assistance for homeowners to help boost the market. There is a clear indication, however, that the support being provided by the government will come to an end soon. As the market improves, there will be less need for this level of support.At the moment, though, with all the stars aligned, you will find that acquiring an Arizona mortgage now for your new home will likely be the best time in history. The time to act is now; get into your new home with prices low and watch your investment increase.
If you have any questions about this or if you have any questions you’d like us to answer on our podcast, you can email your questions to team@azmortgagebrothers.com or give us a call at (602) 535-2171. Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.
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Thanks for listening and reading the Mortgage Brothers Show. Let us know if you have any questions you’d like us to answer on this podcast. You can email your questions to Tom@AZMortgageBrothers.com or Eddie@AZMortgageBrothers.com.
Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.
Signature Home Loans LLC does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Signature Home Loans NMLS 1007154, NMLS #210917 and 1618695. Equal housing lender.
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