LONGWOOD, Fla. — It doesn’t matter if you are a buyer or a seller, the real estate market is a tough one to figure out.
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Some say it’s neither a seller nor a buyer’s market.
Channel 9 spoke to real estate experts about the key to making a housing deal right now.
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The current mortgage rate is approaching 7.5%.
This means that the $400,000 home that could have been bought a couple of years back would carry a mortgage about $400 more expensive today.
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Currently, 80% of U.S. homes have a mortgage under 5%, and 60% percent of those homes are under 4%.
The current market makes for savvy buyers.
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For large and older homes, the pricing can be even more complicated.
See the full report in the video above.
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