Look for the housing market to continue upward trend even with rising mortgage rates

SOUTHFIELD, Mich., Jan. 20, 2017 (GLOBE NEWSWIRE) -- The consistently strong home purchase market has certainly been a focal point for the past few years with sales and prices continuing to rise.  Michigan-based lender Capital Mortgage Funding and its president and co-founder Harry Glanz is confident that the trend will continue for 2017.

“The market here in southeastern Michigan has been strong for the last five years and the good news is that we see this trend continuing in 2017,” says Glanz.  “Consumer confidence is high, home property values have increased substantially and the buzz of buyers is infectious. It’s a great time to be in the market.”

Even though interest rates have gone up since the election, Glanz comments that, “with all of the positive economic news, we knew that interest rates were not going down to zero.  Rates do have to go up and if you take a look historically, when you have a 30 year rate in the low to mid 4 percent range and a 15 year rate in the high 3’s I say that’s a positive interest rate environment and quite conducive for vigorous home purchase activity for the year 2017.”

The energy and attitude in the market is that if the home is properly presented, it’s going to have multiple offers that could result in bidding wars this spring.  “We have seen this happen before, to what extent will this happen again, let’s wait and see about that,” cautions Glanz.

“The overall landscape of the home buying market is very solid, and that is coupled with what are still extremely low interest rates. Buyers and sellers should feel confident that 2017 will be an excellent year,” Glanz reiterated. Harry Glanz is available for interviews on this subject of the home buying and mortgage industries.

Celebrating 25 years of Five-Star Lending Service Excellence, award-winning and nationally recognized Capital Mortgage Funding offers a wide variety of loan programs, including but not limited to Conventional, FHA, VA, USDA/RD, & Jumbo. The company also offers clients the best in customized personal services.  For more information, call 1-800-LOW-RATE or go online at www.LOWRATEONLINE.com. Capital Mortgage Funding is Powered by Fairway Independent Mortgage Corporation and is the winner of that national corporation’s Top Affiliate Award.
CMF is located at 17170 W. Twelve Mile Road, Southfield, MI 48076.        NMLS#2289.   EQUAL HOUSING LENDER.

For more information contact:
Stephen Lipsen
(248) 833-5184
stephen.lipsen@lowrateonline.com