Rent vs Buy? Great time for first time home buyers and investors

Rent vs Own

Why buy now?  As the economy improves, expect mortgage rates to go up. Just this week, Freddie Mac announced the 30-Year Fixed Rate bumped up slightly in response to December’s employment report:

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac;

“Fixed mortgage rates increased slightly following a positive employment report for December. The economy added 155,000 jobs, above the consensus market forecast, and November’s job growth was revised upward by another 24,000 workers. This helped keep the unemployment rate steady at 7.8 percent, the lowest since December 2008. For all of 2012, 1.86 million jobs were created and represented the largest annual gain since 2006.”

To learn more about today’s interest rates, what to expect with closing costs, and how to negotiate – please RSVP to our Home Buyer Lunch & Learn on Feb 6th. We’re hosting a series of seminars this year, let us know what you’d like to learn about!  $50 Home Depot Gift Cert drawing at each. Space is limited – so please RSVP today!

You can search ALL Philly listings at CenterCityPhillyRealEstate.com.

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