TRENDING: The Suburbs.

SUBURBS; CITY dwellers; REAL estate agents; MORTGAGE guarantee insurance; STANDARD metropolitan statistical areas

Despite home price gains, low mortgage rates should help keep homes affordable for entry-level buyers this year, says Mike Fratantoni, chief economist at the Mortgage Bankers Association. TIPS FOR BUYERS Buyers who want to lock in the lowest mortgage rates should purchase a home earlier in the year, before rates tick up, Hale says. Although many homes have been selling above market value, home sellers should still list their homes either at or slightly above market value to attract as many buyers as possible. Sellers also like offers that waive home appraisal contingencies, says Larry Prigal, co-owner of the Prigal Brothers and Associates real estate team at Compass in the metropolitan Washington, D.C., area. [Extracted from the article]

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