The Wall Street Journal says it’s finally time to buy a house. Housing prices, across the country, rose sharply from April to May, and mortgage rates continue to drop to all-time lows, with the 30-year fixed rate at 3.5%. WSJ also noted that Housing Starts rose 6.9% in June and home-building stocks are on the rise, with the Philadelphia Housing Sector Index up 27 percent this year.
Real estate website and search engine, Trulia, has found that it is cheaper to buy than to rent in each of the nation’s largest 100 metropolitan areas. WSJ estimates that you can make up the difference in buying a property versus renting a property within five years, due to current interest rates on mortgages. Truly, now is the time to buy a house!
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