Spring is typically peak season for home buying. However, clearly this spring is like no other which may mean this may be the best time to buy for the foreseeable future.
- Low interest rates: The Federal Reserve has cut the interest rates that banks pay to borrow money as close to zero as is possible. Interest rates on 30-year fixed mortgages are as low as 3.29 percent and may continue to fall.
- Less competition: Few buyers, no open houses or in-person tours may be the perfect oportunity for some.
- Stability for the future: Certainly we’re in the midst of economic uncertainty but a house is an investment for the future.