FOR BU
The Rate Reality Mortgage rates currently range from 6% to 6.2%. If rates drop below 6% and stay there, we will see a feeding frenzy. Pent-up demand from two years of sidelined buyers is already starting to hit the market in some areas of the country—in fact, more than 11 major markets in the U.S. have shifted to “buyers markets” according to Realtor.com. When rates hit sub-6%, competition will intensify, multiple offers will return to many
desirable areas, and prices will accelerate even faster. The Equity Opportunity is Real
According to a study from the National Association of REALTORS®, a typical homeowner accumulated an unprecedented $147,000 in housing wealth over the last five years. As the old adage goes, time in the market, rather than timing the market, matters most. Bottom Line Acting before rates drop below 6% might be smarter—less competition, more negotiating power, and you can refinance later. Waiting for the “perfect” rate could mean paying significantly more in a bidding war. No matter your budget, my network of mortgage professionals knows every program and product to help you get into your home. Let’s explore your options today.
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