Larry Martinez of AmeriFund Lending had this to say today in his update about the housing market. I find it interesting and think you might, too. Still slow is the first time buyer market. Tight underwriting standards and high student loan debt are thought to be he problem. This months article The Bank of Mom and Dad covers the old school method of buying that first house with gift funds. The opportunity to buy and lock in extremely low rates long term can be a big wealth builder for those buying their first house or re-entering the housing market. The big question is how long will mortgage rates stay low? At the end of 2013 and early 2014 economists were predicting much higher mortgage rates by late 2014. That hasnt happened due to QE from foreign central banks. Also Japan saying part of their QE is to buy foreign assets and that sent US stock markets to the up side. Still a great time to buy a move up property, second home, or rental. Any of these can be good wealth builders and help balance your investment portfolio. With mortgage rates low and equities up, it is a good time to look at using some of that equity to fund new investments.
Posted on: Thu, 06 Nov 2014 15:24:03 +0000