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Feds hike the interest rates and it comes with benefits

posted in Real Estate News by Kathleen Yamauchi

Buying a home in Prescott, AZIf you’re thinking of calling Prescott home now’s the time. The Federal Reserve raised the interest rates .25% recently after a strong jobs report. The hike is a sign that the Federal Reserve is confident about the speed of growth in the U.S. economy. According to Bankrate.com rising interest rates does come with some surprising benefits for homebuyers.

Benefits of higher interest rates

  • Lending has resumed as banks have an incentive to loan out reserves at higher interest rates
     
  • If you apply for a mortgage today your offer will be more competitive than for those who haven’t sought preapproval yet
     
  • Savings accounts have long been in a drought, however, if you’re saving for a home a welcome improvement in interest rates, although modest can help you get to the home of your dreams a little bit earlier

Overall interest rates remain historically low, and better yet Prescott continues to be an attractive destination to call home and comes with benefits too!

Benefits of calling Prescott home

Nestled in the Prescott National Forest, Prescott also boasts a classic downtown complete with a historical setting that includes Victorian homes and an entire block dedicated to the old frontier known as Whiskey Row.

Many homes in Prescott have views of our scenic mountains including Granite Mountain, Thumb Butte, and the Bradshaw and Mingus Mountain ranges. Wherever you choose to live, you’ll be close to the many natural wonders in the area from National Forest lands to one of the many lakes in the area that you can enjoy year round.

Whether you are looking for a country estate with property for your horses, a gated community with a golf course or perhaps you prefer living downtown, Prescott indeed has something for everyone.

Contact Kathleen Yamauchi Group Real Estate or call (928)771-1111 to learn more about calling Prescott home today!