The Case-Shiller Home Price Index which is a key measure of the U.S. housing market posted an 8.1% rise in property values from the end of January 2012 to 2013.
Chicago, IL (PRWEB) March 27, 2013
The Federal Savings Bank is pleased to echo news that the S&P/Case-Shiller Home Price Index showed the fastest growing rate for home prices since 2006. While prices rise and perspective homebuyers save up for a mortgage, veterans are in a better position to purchase a home.
The Case-Shiller Home Price Index which is a key measure of the U.S. housing market posted an 8.1% rise in property values from the end of January 2012 to 2013. Some parts of the country experienced a stronger rise, such as Phoenix, Arizona posting a 23.2% gain year-over-year, while pries in Chicago rose a modest 3.3%.
"The housing recovery is based on a number of factors", says Nick, a banker at The Federal Savings Bank. "We're seeing low amount of inventory, declining unemployment, and very low interest rates." While new home sales declined slightly from January 2013 to February, it must be noted that January sales were the highest in more than 4 years. Economic data is definitely supporting the fact that the housing market on the road to recovery.
Veterans who are looking to purchase a home during this opportune time are strongly encouraged to secure a VA home loan through The Federal Savings Bank. The Department of Defense has recently increased the basic allowance for housing expenses on a monthly basis. Veterans are using va home loans since volumes increase 51% from 2011 to 2012. One of the main advantages of a va mortgage is that the applicant may be eligible for a zero money down payment. Veterans, looking to purchase a property in this well timed housing market with a low fixed rate should visit: TheFederalSavingsBank.com.