Checking The Pulse Of The Kansas City Real Estate Market

Kansas City mortgage interest rates have fallen drastically the past week and the result is the popular 30-year fixed rate mortgage loan has dropped from a 4.57% national average to 4.45%. These are the lowest mortgage interest rates we’ve seen all this year. Not surprisingly, the Mortgage Banker’s Association reports that mortgage loan applications jumped an astounding 7% over the past week.

Many economists feel home prices have bottomed out or will bottom out this year. Couple that with today’s low interest rates and this could be the best time ever to buy a home. Home buyers can certainly lock in an unbelievably low mortgage payment for years to come. Even if the real estate market encounters a slow rebound, first time home buyers will still be able to enjoy the pride of home ownership, a monthly payment lower than many rental payments, and building of long-term net worth when property values start rising again.

Posted by Jason Brown