Lenders Say “Buy Home Now”

HomeFinder.com suggests reasons for buying a home before the end of the year include new lending rules which will move debt-to-income ratio requirements higher, possibly making it more difficult to buy property. Additionally, mortgage rates are already up one to two percent, but grabbing a fixed rate mortgage (FRM) at 4.5 percent for 30 years still remains possible. And, as housingwire.com tells MHProNews.com, buyers can begin deducting the interest immediately. The lenders surveyed also say 2014 will be a definite test market for the mortgage industry with the new rules and the possible tapering of the federal stimulus.

(Image credit: housingwire.com)

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