Fredericksburg home buyers are finding record low mortgage rates and increasing inventory. This is the recipe for a warm upcoming Fredericksburg Real Estate Market.
Nervous stock traders invested heavily in protected U.S. Government Bonds on Wednesday, driving key interest rates to the lowest level since May of 2013. The U.S. Treasury is the largest, most liquid market in the world. In an unstable market, investors seek protection and money flocks to the U.S. Market. The culprits in this rising activity are the reducing oil prices and the slump in Europe. This has increased demand for U.S. Government Bonds. Iron ore, copper and other products plunged in the stock market, while government bond prices increased. This pushed Treasury yields down. The yield on the 30 year bond dropped under 2.4 percent for the all time low on record.
What does this mean for the home buyer in Fredericksburg? This activity shows a trend that the mortgage rates will remain low for the upcoming spring season. I’ve observed increasing listings in the area. With supply on a rise and demand increasing demand, home buyers will have a great upcoming market.
Home sellers that have been waiting for the market to get better to list their homes should get a jump start now. Don’t wait for the flood of new listings this spring. Get your home on the market now while inventory is still low. The low interest rates will get buyers on the street. Present your home as the best it can be. Hire a great Realtor that uses only the best tools to get this done. A good agent will present your home to the world, not the local area.
By: Tom Smith
Tom Smith is a licensed Associate Broker with Century 21 Redwood in Fredericksburg, VA. He is a President’s Award recipient and has gained Centurion Status and Pinnacle Quality Service among many other accomplishments.