For Americans wanting to buy a new home, there are always two time frames to consider:
- Now
- Later
It's why prospective home buyers love to ask the question: "Is now a good time to buy?" If now is not a good time, they reason, certainly later must be.
Strangely, though, "Is now a good time to buy?" is a question that people ask their real estate agent but never their mortgage guy.
It's probably a good thing, too, because loan officers have seen a lot of changes over the last few months and we're expecting a lot more this year.
But it's okay. You can ask me now: "Is now a good time to buy?"
And I answer: "Absolutely and unequivocally yes."
Now is a good time to buy -- not because home prices are flat or because sellers are willing to make deals, but because none of us mortgage guys can predict what the mortgage market will look like "later".
"Now" is full of knowns. "Later" is full of unknowns.
It's not good to try and buy a home "later" only to find that tighter standards mean you can't get financing any longer.
