1st-time homebuyers advised to enter market due to stabilization, declining mortgage rates, but affordability remains a concern.
Mark Lister, investment director at Craigs Investment Partners, advises first-time homebuyers that now is a favorable time to enter the market due to stabilization and declining mortgage rates. However, mortgage rates may settle around 5%, and affordability remains a concern with high ownership costs and rising unemployment. While modest market recovery is expected, potential buyers should remain aware of ongoing costs associated with homeownership.
September 22, 2024
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