Are you thinking about buying a home in 2015? Are you still on the fence? Here are five really good reasons to buy a home in 2015.
1. Interest Rates
Although the economy is improving and interest rates can’t stay low forever, aquotefrom Janet Yellen, chairwoman of the Federal Reserve, should give some optimism to those looking to purchase soon:
“In particular, the committee considers it unlikely to begin the normalization process for at least the next couple of meetings,” said Yellen.
There’s a lot of fancy jargon in here, but it basically means that the Fed wants to take its time and let things play out before raising interest rates. Increases in interest rates probably won’t come before mid-2015 at the earliest. This gives you plenty of time to take advantage of the low rates available now before they go back up.
Economic conditions affect how much money there is to spend. Therefore, the current economic growth, combined with a drop in prices at the pump, has put more money in Americans’ pockets.