economy
These are the types of homebuyers who should buy this spring, according to experts
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TL;DR
- Mortgage rates have decreased from April highs but remain above February lows.
- Buyers willing to improve credit scores and shop around for lenders can secure better rates.
- Long-term homeowners can better absorb rate fluctuations and build equity over time.
- Adjustable-rate mortgages (ARMs) and new construction with builder incentives are alternative options.
- Negotiating with lenders and sellers for lower rates, fees, or seller concessions can improve affordability.
- Buyers whose budgets can comfortably accommodate current payments, even after 'practice payments,' should consider purchasing.
- The decision to buy is highly individual, depending on financial health, timeline, and goals.