The incentives from the government in form of tax rebates and low mortgage interest rates have recharged the home buyers market thereby raising the value of the homes.
This is still a buyers market though. The sellers are under pressure to sell their homes still because of the slow recovery in the job market. It is still a good time to grab some great deals by only if you can either sell off your existing home or afford to have more than one home!
An advantage of the rising home prices would be to the people who are trying to refinance their home mortgage. A higher appraised home value can make a bank more eager to refinance your home mortgage because of the extra equity in the home. Not only would the banks be eager to refinance, they would not mind giving you a better interest rate too than they would for a home that has a smaller equity built in.
Refinance your home mortgage as soon as you can to take advantage of the low interest rates and the rising home prices. A stabilized home market may make the mortgage interest rates also to shoot up.
