Christina Mlysnki at HousingWire reports that “fixed mortgage rates fell to a nine-week low this past week, following the Federal Reserve’s announcement that it will maintain its bond-buying program to keep homebuyer affordability elevated.” That rate is currently 4.37% on a 30-year fixed, a favorable borrowing opportunity that stands in stark contrast to the scenario faced by renters. Roger Vincent of the LA Times paints the grim picture: “Rents will continue to rise for the next two years, according to (the) 2013 USC Casden Multifamily Forecast, as the region’s rental housing market continues to absorb units faster than they are being completed.”
For anyone who has put off buying a home, this is news you’ll want to think about. Real estate remains in high demand in the LA region, and prices are rising. But there are still options for you, including financing opportunities that can make ownership far more affordable than you might think.
Get expert guidance that considers your personal and financial needs. Contact Tracy Do Real Estate.
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