A local real estate professional can help you evaluate your equity and how to use it wisely. If you’re planning to move, keep in mind that the experts are forecasting home price appreciation in 2020, which could influence your choices. The Impact of Low Mortgage Rates Mortgage rates are also expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan, making moving into a new home right now very desirable. Low mortgage rates can offset price hikes and increasing appreciation, so locking in while rates are low will be key. When rates are low and you also have equity to put into your next home, you may be in a better position than you think when it comes to making a move into your dream home. The combination of leveraging your growing equity and capitalizing on low rates could make a big difference in your housing plans this year. Bottom Line If you’re planning on making a move this year, the twin trends of low mortgage rates and rising home equity can kickstart or boost those plans in the right direction.
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