houses in philadelphia pa
The Fed has pledged to keep the Federal Funds Rate close to 0% for the foreseeable future. Banks have passed along the savings via low mortgage rates and helped create strong market conditions.

Now that we’ve covered 2 principal instruments to lock in rates (Part 1) and how to minimize your interest rates (Part 2), the following will explore ways to make these rates work for you.

  1. Investment. Philadelphia demand is primed to remain robust with the East Coast’s 3rd largest student population and 4th highest GDP.
  1. First Home. FHLB’s “First Front Door” program couples sub-3% rates with up to a $5,000 grant, for unprecedented savings. 
  1. Trade Up. If you’re considering a new home and finances are stable, consider locking in a low rate and starting fresh. 
  1. Refinance. If you plan on staying put for 5+ years and can secure at least a 1% lower rate, refinance.

Ultimately, the decision is yours, and I’m here to help. Whether you’re a first-time buyer, motivated seller, seasoned investor, ambitious agent, or anywhere in between, I look forward to working together!

– Leron Grossman, Real Estate Broker & Investment Expert | Office: 215-709-0909

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