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Home Mortgage Rates Omaha

Home mortgage rates Omaha

Home mortgage rates are often a determining factor as to whether you buy or rent. As mortgage rates rise, home affordability declines. The maximum purchase price that a buyer is qualified to buy falls as interest rates occupy a higher portion of the monthly payment. Loan qualification is based on monthly housing cost. When affordability declines, housing demand declines with it. Buyers are forced to make more compromises and many decide to wait, which bolsters the rental market. This puts less people clambering to buy homes. Rising mortgage rates along with the resultant lower demand limits home values. If inflation is a factor in causing mortgage rates to rise, housing prices usually rise to keep up with rising inflation. Rising rates and rising prices (assuming wages don't keep up with inflation) dampens demand but it also slowly puts home ownership farther out of reach for many potential buyers.

Home mortgage rates in Omaha are very low, based on historical norms. This makes now a great time to buy a house. Home mortgage rates are expected to rise in the foreseeable future and inflation will eventually pick up as the economy strengthens. If you are considering a home purchase, this may be the right time to buy. Visit our Buyers section for value added programs and information on investing in real estate.

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