It's a refrain we've been repeating a lot lately, yet it's one we like to hear: Home values are still rising in most places, and mortgage rates are still near historic lows.
So why do we keep talking about it? Low rates can equate to saving money, and rising prices can equal growing wealth. That's music to the ears of homeowners and home buyers far and wide.
How much have values risen? The map below will show you home price growth in the last quarter of 2015. Annual growth is detailed in the chart. Pretty impressive, isn't it?
The appreciation figures shown are derived from the Federal Housing Finance Agency (FHFA) All Transactions Data and compiled by Estate of Mind, Inc. Appreciation will vary from year to year, can decline and, for any individual property, can be more or less than the averages illustrated here. Information is deemed accurate but not warranted.
While the message of rising values and low rates may sound like a broken record, it's one we're happy to repeat.
Why? There may still be opportunities for owners to save or even free up some cash for other needs. With rates where they are, affordability is still good for prospective borrowers, too.
Still, we don't know how long the current trends will last. If it's time for you or someone you know to take the first step toward buying or refinancing, we're ready to help.
Just be sure to take action before the music stops.
Today's blog courtesy of Cheryl Taylor, American Pacific Mortgage.