The real estate market in New York City is returning up to pre-pandemic levels and in some areas even out-performing sales from 2019 and early 2020. Despite rising purchase prices, interest rates are still at historic lows.
If you’re trying to figure out whether to purchase in New York City now or wait to buy, keep in mind that waiting could cost you hundreds of thousands of dollars (in interest rates and appreciation costs) over the course of your loan.
For example, you’d save over $140,000 if you purchased an $850,000 apartment today, versus if you waited and interest rates rose just 1%.
Given how the pandemic has impacted the housing market with a rise and fall in trends, Money.com conducted extensive research to help buyers make smart mortgage decisions; allowing them to pick the right mortgage lender to pave the way to affordable homeownership.
This guide on the best mortgage rates gives insight into the current state of housing trends with weekly updating relevant data, insider tips, and assessments.
If you’re thinking about buying but aren’t sure where to start, send us a message to be connected with one of Platinum’s amazing agents who can help you figure out when buying is the right move for you.
Purchasing a property is your biggest investment and most intimate one as well — make sure you’re connected with a brokerage and agent who has your back every step of the way.