Mortgage Rates Just Saw Their Biggest Drop in a Year
Opportunity Time~ Mortgage Rates Tumble
How Long Will It Last?
That really depends on where the economy and inflation go from here. Rates could drop lower, or they could inch up slightly.
So, make sure you’re connected with a good agent and trusted lender. We’ll keep a close eye on inflation indicators, job market updates, and reactions to upcoming Fed policy to gauge where mortgage rates may go from here.
But for now, focus on this. While no one can say for sure where rates are headed, the fact that rates broke out of their months-long rut is a good thing. If you’ve been feeling stuck, this could make the start of a new chapter. As Diana Olick, Senior Real Estate and Climate Correspondent at CNBC, says:
“Rates are finally breaking out of the high 6% range, where they’ve been stuck for months.”
And that’s gives you more reason to hope than you've had in quite some time.
Bottom Line
This is the shift you’ve been waiting for.
Mortgage rates just saw their biggest decline in over a year. And if rates stay near this level, it could make a mountain home you couldn’t afford just a few months ago feel possible again.
What would today’s rates save you on your future monthly payment? Let’s connect so you can find out.
Pair that with the huge number of price drops and this is one of the best buyer markets we’ve seen in years.
Time is Running Out for This Year;
If you see your dream home move fast or it will be next spring before you get another chance. If interest rate fall below 6% by Spring it will probably be a Feeding Frenzy return to 2021!