According to many experts and mortgage lenders, 2017 is going to be less unpredictable and volatile than 2016 was. For many, this is a welcome change as 2016 proved to be quite the challenge for some in the real estate industry. If you want to know more of what to expect this year from mortgage lenders around Delaware, here are a few trends that you want to pay attention to.
Price Increases Will Be Less Sharp
While the prices for homes are likely to continue to rise, they should not rise quite as quickly as they did in the past. This means that more people are going to be able to take advantage of the best mortgage rates in Delaware before prices jump again.
Rates from Mortgage Lenders Will Also Be On the Rise
Mortgage lenders are expected to continue to increase their rates as the year goes on. This is likely due to the higher levels of confidence with consumers, the lower numbers of unemployed people, and the increase in housing prices. If you want to get the best mortgage rates in Delaware, buy sooner, rather than later.
Homebuying Competition Will Grow
Over 2017, more Millennials are expected to move out on their own and become both renters and new homebuyers. They will want the best rates possible, which means they will sort through different mortgage lenders to find the best deal. Pitting many of the mortgage lenders against each other will help people looking to buy a home, find great rates and terms that they are happy with.
If you want more information on what to expect during 2017, contact the experienced professionals at Highlands Mortgage. We are a mortgage brokerage firm in Delaware, and will help you find the best mortgage rates around so you can buy the home of your dreams.