Buying Season is Back. Here's What to Expect. With peak buying season upon us, here's what analysts are expecting to see this year: Increasing Mortgage Rates It appears, depending on how the economic recovery progresses, that mortgage rates could continue to increase. Earlier in the year, rates were holding under 3%, but those rates have steadily increased over the past several weeks. As more and more Americans are vaccinated, it's expected that economic recovery will continue, and this will likely contribute to an upward movement in mortgage rates. If you're thinking of buying this summer, it may be in your best interest to lock in a rate as soon as possible. Inventories Could Increase Many home shoppers found the lack of inventory to be a major source of frustration during the past year. It was difficult - if not impossible - to find available properties, and when something went on the market, it was often scooped up in days or sometimes just hours. Some analysts ar...
Tiffany Morrisett is a Real Estate Broker with Coldwell Banker serving the Northwest Suburbs of Chicago. Owner of affordable, elegant home furnishings store, Tiffany-Interiors.com Real Estate: TiffanyMorrisett.cbintouch.com Affordable and elegant Home Furnishings: Tiffany-Interiors.com Direct Phone: (847) 857-8276 Email: tiffany.morrisett@cbexchange.com Social: facebook.com/AnAgentYouOughtaKnow twitter.com/MorrisettAt instagram.com/tiffanymorrisett_realtor/