The average rate for a 30-year fixed mortgage is still near a two-month high. Here's where experts say rates will go next...
A few weeks back, the rates dipped for a short while and the market reacted very well! It looked like we were on our way back to a better market, with lots of showings and offers within that time window. Unfortunately, rates have bounced back up recently, putting the breaks back on for prospective Buyers. Several people feel it makes more sense to wait out rates or hold tight until the election concludes. It also is much easier to do nothing in times of uncertainty.. Overall, the market seems volatile and for most Buyers, it remains a difficult task to break into the market. For Buyers that do not have their purchase heavily weighted on financing or know how to work with creative financing, it has been a great time to make a deal. Let me know if you've got questions about creative financing and what that could look like! - Greg
What's new with Mortgage Rates?
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