Over the last few years, homes prices have appreciated at alarming rates. Some areas saw appreciation rates exceeding 40% per year. The rising home prices drove many borrowers out of the market even with the lowest rates in our history. While rates have risen, home prices have begun to soften which is great news for first-time home buyers. While you may not see appreciation that exceeds your annual income, buying a home is still a great investment.

Although rates have risen over the last couple years, rates are still historically moderate. Higher rates means fewer borrowers and less competition for properties. Rising rates and declining affordability means more people will be competing for homes to rent instead of buying. The increased demand for rental housing causes landlords to raise rents. Buying a home now is still your best insurance against inflation and rising rents.

Buying your first home can be daunting, however it can also be one of the most rewarding experiences in your life. If you are currently looking at homes, and you are not pre-approved, apply online now. A pre-approval can give you much needed leverage when making an offer.

Want more information? Request my Free Home Buyers Guide one of my free reports for first-time home buyers below or register for access to my all of my free reports, calculators, and more.