The summer housing market is heating up

What to expect and how to prepare

If you're on the fence about buying a home, don't wait! The Home Buying Institute recently released their Summer 2019 Housing Forecast. Here are the main takeaways:

• Home sales are likely to increase.
• Low rates, low unemployment and wage growth could boost the housing market.
• Home prices are rising in many U.S. cities.

So what does this all mean for you? Here are some tips for winning this hot home buying season:

Take advantage of low rates

The experts at Freddie Mac predict mortgage rates will remain below 4.5% through the summer. Locking down with a low, fixed-rate mortgage could shield yourself from potential rate increases in the future. 

Don't sit and wait around

While forecasts are looking good for mortgage rates in the coming months, the forecast isn't as sunny for home prices. In some of the hotter real estate markets, housing prices are rising steadily. So avoid higher costs and buy sooner rather than later.

Know your down payment options

Many people believe they need to make a down payment of at least 20% to qualify for a mortgage, but they don't. Between FHA loan programs and down payment assistance, there are plenty of options for people looking for a low down payment.

Don't wait until the sun sets on summer to find your dream home. Explore your options!