New House

A New habitation XECO/212 April 6, 2012 A New House A new-fangled house is an important financial decision. Many factors get hold of to be estimateed before beginning the process of purchasing a house. If all(prenominal) aspects of the obtain ar not imageed, any mistake black have dire financial consequences. One thing to handle before purchasing a house is the current owe rate and the forecast of the owe evaluate in the deal near future. Right now mortgage rates argon at an all time low. With the mortgage rates at a low point, this means that the vendee go extraneous spend little property in the presbyopic run. The mortgage rate testament not stay low for a very long time. The mortgage rates are pass away judgment to bring up again in the near future. In as little as a year from now, the clean mortgage rate is expected to rise from 4.5% to an average of 5% (Yun, 2011). The purchaser needs to consider governing agen cies and their policies that will chance on the housing market. The main government deputation to consider is the federal Reserve. The Federal Reserve is the agency responsible for setting the rise and fall of interest rates and how much coin is to be available to purchasers.

If less money is available to purchasers and people are not able to carry enough funds to purchase a house, the prices of houses will drop. On the contrary, if there is more money available the price of homes will rise to maximize net profit for the seller. In my opinion, the investment of acquire a house is a wise one consideri ng the purchaser has made all the sort out ! research and has all the financial means to make the fealty to paying the mortgage. Reference Yun, L. (2011, October). Mortgage Rates. Retrieved from hypertext transfer protocol://economistsoutlook.blogs.realtor.org/2011/10/31/mortgage-rates/If you want to get a wide-cut essay, revise it on our website: OrderCustomPaper.com

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