Thursday, November 17, 2022 / by April O'Brien
If you're on the fence about buying a home in Delaware or Pennsylvania, now is the time to get started. The Kat Geralis Home Team has decades of real estate experience to help you find your dream home before winter and enjoy the holiday season in your new surroundings.
Delaware and Pennsylvania homebuyers should be sure to take the following into consideration in their decision to buy before winter:
Mortgage rates were hovering around historic lows for quite some time, but they have since seen quite a hike, with the average mortgage rate resting around seven percent. If you missed buying a home at a low rate, don't wait longer! Mortgage rates will continue to increase, with experts predicting the average 30-year mortgage rate to land between five and nine percent next year.
In past blog posts, we have discussed the mortgage process and how you can better prepare yourself this year. However, during the holiday season, the entire process tends to slow down. With all of the paperwork necessary, the lender, and your timing, it can take much longer for everything to come together than it would be if you purchased a home now.
Home prices, like mortgage rates, are on the rise! In fact, one of the reasons many home sellers are now ready to move is due to these higher prices. Waiting to buy a home in Delaware and Pennsylvania could mean edging yourself out of a great deal.
There is no time like the present to purchase a home in DE or PA, whether you're moving up, moving down, or simply moving to a new location. The Kat Geralis Home Team is happy to help you every step of the way to ensure you're in a new home before the winter season officially arrives.
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