US job growth remains solid as recently as September as the Fed fights against inflation, adding to growing themes that point to a strengthening nationwide economy. According to the National Association of Home Builders, “In the nine months of 2023, nearly 2.3 million jobs were created, and monthly employment growth averaged 260,000 per month, following the average monthly growth of 399,000 in 2022.” That’s back-to-back years of immense job growth. But what does this improvement to our economy mean for those interested in buying a new home?
The uptick in US job numbers is excellent news for prospective homebuyers! A thriving job market is often indicative of a stable economy, and such times are beneficial for making significant investments, like purchasing a home. Making such financial strides can come with many benefits, such as the ability to begin building equity.
For those diving into homeownership for the first time, purchasing a home at a great fixed rate is often top of mind, as your monthly principal & interest payment will remain constant.
If you’re interested in buying a new home but are worried now isn’t the right time, you’re not alone. According to the Fannie Mae Home Purchase Sentiment Index released in September 2023, more than 80% of potential homebuyers think it’s better to wait. However, homebuyers may not realize one of the main reasons why now is still a great time to buy: interest rates. In 2021, they were at 2.96%, a historic low, but have steadily increased to over 7% as of today.†
This means waiting could cost you more. But if you’re in search of securing a mortgage rate lower than the current federal one, a new home may be your answer.
Lennar can help you take advantage of competitive rates through their affiliate lender Lennar Mortgage. Lennar Mortgage provides a simple path to homeownership and helps to make applying for a mortgage simple and stress-free.
From helping to secure you with a great rate through Lennar Mortgage, to providing important resources to assist you in your homebuying journey, Lennar is designed to help you succeed every step of the way. You found your dream home; Lennar wants to make it a reality.
So, start your search today, to find a home you’ll love by visiting www.lennar.com today.
†This statement is based on currently available information from https://themortgagereports.com/61853/30-year-mortgage-rates-chart#loan-purpose current market conditions and should never be relied upon. Market rates are based on market trends and other factors that can cause predictive statements to differ materially. Lennar makes no guarantee of present or future market conditions. Forecasts, projections and other predictive statements should never be relied upon. You should consult your own accounting, legal and tax advisors to evaluate the risks, consequences and suitability of any real estate transaction. Current offers and promotions vary by homesite and community. See a New Home Consultant for additional information. Financing is available through seller’s affiliate lender Lennar Mortgage, but use of Lennar Mortgage is not required to purchase a home (See Affiliated Business Arrangement Disclosure). Lennar Mortgage, LLC – NMLS # 1058. This is not an offer in states where prior registration is required. Void where prohibited by law. Copyright © 2023 Lennar Corporation and Lennar Mortgage, LLC. All rights reserved. Lennar, the Lennar logo, Lennar Mortgage and the Lennar Mortgage logo are U.S. registered service marks or service marks of Lennar Corporation and/or its subsidiaries. Arizona – Lennar Sales Corp.; HSP Arizona, Inc. ROC 242267B-2; ROC 138431B; ROC 144869A; Lennar Arizona Construction, Inc. ROC 228129B; Lennar Arizona, Inc. d/b/a Lennar Homes ROC 232731B; Lennar Communities Development, Inc. ROC 137295KA / California – CalAtlantic Group, Inc. (Responsible Broker: Joanna Duke) #02058246; BMR Construction, Inc. 830955; Lennar Sales Corp. (Responsible Broker: Joanna Duke) #01252753; CalAtlantic Group, Inc. 1037780;; Lennar Communities, Inc. 66241; Lennar Homes of California, Inc. 728102 / Florida – Lennar Realty, Inc.; Lennar Homes, LLC CBC038894; CGC062343, CGC1518166, CBC1257529, CGC1523282, CBC1260831, CGC1526578, CBC051237; Standard Pacific of Florida GP, Inc. CGC1506052, CGC1517342; U.S. Home Corporation CGC1518911; WCI Communities, LLC CGC031523 / Maryland – CalAtlantic Group, Inc. MHBR No. 128; U.S. Home Corporation MHBR No. 316 / Minnesota – Lennar Sales Corp.; CalAtlantic Group, Inc. BC736565; BC700385; U.S. Home Corporation BC001413 / Nevada- Lennar Sales Corp.; Greystone Nevada, LLC 48844; Ryland Homes Nevada, LLC; Lennar Reno, LLC 64226; Ryland Homes Nevada, LLC 56652 / New Jersey – Lennar Sales Corp. / North Carolina – Lennar Sales Corp. / Oregon – Lennar Sales Corp. #201206464; Lennar Northwest, Inc. CCB #195307 / Pennsylvania – Lennar Sales Corp. / South Carolina- Lennar Carolinas, LLC / Tennessee – Lennar Sales Corp. ph. 615-465-4328 / Utah – Lennar Homes of Utah, Inc. / Washington – Lennar Sales Corp.; CalAtlantic Homes of Washington, Inc. CALATHW836LR; Lennar Northwest, Inc.LENNAN1893QG / West Virginia – US Home Corporation d/b/a Lennar; #WV060106. Date 10/23
