With the current economic scenario where there is uncertainty in the future, it is natural for people to want to know how the low interest rate environment will affect home prices. A low interest rate environment will mean that your mortgage repayment period will be elongated and you will have fewer payments and less money towards your principal loan balance. Here are some factors that will help you gauge how this will affect your home prices:
The lowest possible interest rates are always good when looking at a mortgage. When the interest rate environment is low, lenders provide borrowers with the opportunity to lock in the lowest possible rate. This is the best environment for potential home buyers, because it means that the monthly mortgage repayment remains at the lowest level possible.
It will also mean that you are getting the lowest possible mortgage rates. This is important as this …