Low Interest Rates Fueling Home Buying
Interest rates are at all time lows and that is fueling the homy buying boom in the Twin Cities and around the country. Look at this graph to see historical interest rates all the way back to 1971. It is hard to believe that in1981 rates got up to 18%. Today they are about 2.6%, but you never know what will happen. I do think it is great if you can get long term debt at such a low interest rate. So if you can find a great property that you want to hold and maintain for a while, and you need a place to live, it might not be a bad idea to purchase a home in south Minneapolis. More people are working from home and the low interest rates are going to increase demand for home purchases that include home offices or accessory dwelling units. If you need help buying or selling give me a call.