keller williams greenville sc
There are two major healthcare systems in Greenville, SC—Bon Secours St. Francis Health System and Greenville Health System—but the city’s medical community extends even further. Greenville is also home to several specialists and medical research and educational institutions. In this spotlight, learn a little about the healthcare community in Greenville, SC that serves local residents and surrounding regions.
First-time buyers stated that both proximity to their current rental location and affordability were leading criteria when buying. For sellers looking to appeal to first time homebuyers, your local real estate agent can help you make the most of these factors when it comes time to sell.
The Fed recently announced they would continue their current pace of purchasing bonds until the economy was stronger. This bond purchasing program is the reason that mortgage interest rates are at historic lows. Rates began to increase over the last several months just on the anticipation that the Fed would announce that they would be reducing the level of bond purchases last month. When that didn’t happen, rates actually decreased (4.50 to 4.37).
That was great news for any buyer in the process of purchasing a home. However, this window of opportunity is expected to close in the very near future as most experts expect the Fed to taper the bond purchasers in December. Even Ben Bernanke, Chairman of the Fed, suggested that the Fed could still scale back the stimulus this year. He stated:
“If the data confirms our basic outlook, then we could move later this year.”
Where will mortgage rates head in 2014?
The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors have each projected that the 30 year fixed rate mortgage will have interest rates in excess of 5% by this time next year. The average of their four projections is 5.3%. The table below shows the impact this will have on the monthly principal and interest payment on a $250,000 mortgage:
A buyer should take advantage of the current window of opportunity before it is too late.
Contact David Painter Realtor Greenville SC (864) 616-1608
Keller Williams Greenville SC