Atlanta housing market continues to improve, but at what cost? Interest rates and closing costs!!
Atlanta housing market continues to improve, but at what cost? Interest rates and closing costs!! The Atlanta Journal Constitution ran a article today with more information stating that the Atlanta housing market is continuing a upward movement in home prices, however it comes at a cost.
The median sales price in metro Atlanta was $181,000 in November, up 20.7 percent from the prior year, according to data from the Atlanta Board of Realtors.
Read Full Article here: Atlanta housing market continues to improve
Both the cost of acquiring a loan (closing costs) and interest rates are increasing. Mortgage rates are expected to continue their upward trend into the foreseeable future and along with rising interest rates come higher closing cost fees associated with acquiring a loan.
The rise in home values, interest rates and closing costs are a sign that those persons who were on the "Fence" about buying a home should consider moving forward with a purchase. For every point increase in interest rates means a significant decrease in what a home buyer will qualify for.
If you are considering buying, selling or investing in real estate please give us a call. We are here to help. 678-775-2787 or check us out online at www.AtlantaHomesGuru.com