#1 Mortgage Interest rates will remain stable for the rest of the year

The National Association of Realtors (NAR) the Mortgage Bankers Association (MBA), Fannie Mae and Freddie Mac all believe the mortgage rates will remain stable throughout 2020.

Rates are still at a historic low creating a great opportunity for buyers. These rates have helped more buyers qualify for a home loan which has increased demand across a lot of areas in San Diego.

The National Association of Realtors (NAR) the Mortgage Bankers Association (MBA), Fannie Mae and Freddie Mac all believe the mortgage rates will remain stable throughout 2020.

As mentioned above, with rates being at a historic low more and more buyers are coming to the market so demand should not be a challenge. However, San Diego was already facing a housing crisis due to the low supply of homes for sale. This increase buyer demand will only add to the lack of inventory. Which in turn will help prices to increase helping homes appreciate in value as the year progresses.

# 3 Home values will continue to appreciate

Even with a presidential campaign coming and all the talk of an economic slowdown, six different expert entities expect home values to continue to grow through 2020.

So, what does this mean for potential buyers and sellers in 2020? Buyers should definitely take advantage of the low rates, especially since they’re estimated to remain under 4%. Now more than ever it will be very important to work with a professional realtor that will be able to provide full service in order to increase their chances of getting the right home for the right terms at the right price. For sellers this is a great time to capitalize in the lack of inventory and the increase in demand so they can sell faster and for more money. They’ll also want to hire the right agent to make sure the process in handled properly and they’re not leaving any money on the table.