It’s a good time to buy a home. According to the Mortgage Bankers Association, getting approved for a home loan is easier than it has been at any time in this past decade, with lenders recently approving 77% of loans, up from 71% in mid-2015. On top of that, interest rates are still extremely low, historically speaking.
You might want to act relatively quickly, though, as interest rates have inched up recently and seem likely to continue doing so over the coming years. Rates for 30-year loans hit a nearly three-year high of 4.32% in December, and were recently around 4.27%.