Those people will need access to hundreds of millions of dollars to purchase their homes. And while many people are fretting over a first-time home purchase or whether to move up to a bigger house, there are those who are content to simply stay where they are but looking to make their situation a bit more attractively financially. Mortgage experts in Fayette County deal with all of these questions, and more, every day. As famiies make preparations for what is possibly the biggest investment of their lives, these professionals sort through the jungle of numbers to help clients find the most housing bang for the buck.
Interest rates are fairly low, and have been for several years.
That in itself would seem to make buying a house extremely attractive. But there's a lot more to it than that. Unemployment rates, the economy in general all sorts of factors are considered when mortgage rates are established, according to Martha Fulmer of Mortgage Matters in Fayetteville. A common mistake made by many customers, she said, is assuming that whenever the Federal Reserve lowers its rate, everything else drops as well. That's not always the case, and mortgage rates can occasionally go up a bit, she added.