If you bother to talk to most builders they will tell you, ‘The market is back!’ June’s National Association of Home Builder’s Confidence Index has posted one of the highest scores in over 7 years! Slightly over 40% of the Home Builder’s surveyed say they felt positive about current business activity. Last year only 15% felt confident about the market. Over the last several months, there have been particularly strong signs for the economy like:
Jobless claims decreasing
New home sales posted gains
Existing home sales rise
Pending home sales rise
February and April reported some of the fastest home sales months since 2008
Home values continue increasing
Home sales rose 29% higher than last year
Building permits rose in April
Durable goods rose in April(a very strong housing indicator)
1st Q economy grew at 2.5%
Consumer spending faster rise in 2 years
Consumer confidence at a 5 year high
The NAHB survey is another sign that the US Economy continues to get stronger.
Here’s the bottom line, expanding economy + rising home prices + rising mortgage interest rates = time to buy.
Mortgage Investors Group understands there are a lot of choices when it comes to financing the purchase of a new home or refinancing an existing one. Our licensed and experienced loan officers are here to help you gain a better understanding of those options and answer your questions about the loan process, qualifying and the different features of each loan program. We offer everything from conventional mortgages to government loans.
Call us today and take advantage of these incredible market conditions!