Published December 13, 2023

Interest Rates Are Finally Falling: What You Need To Know

Author Avatar

Written by Brian Parsons

Interest Rates Are Finally Falling: What You Need To Know header image.

Here’s what homebuyers in our area need to know about interest rates.

Over the last year, we’ve talked a lot about higher interest rates and how they have impacted our housing market. So far, it’s been mostly bad news about how rates keep climbing higher; however, that just changed. 


According to Mortgage News Daily, the average interest rate for a 30-year fixed mortgage is down 1% recently. That translates to huge savings over the life of your loan. This is great news, but it comes with a caveat: As rates fall, more buyers will enter the market, which means higher prices and more competition for you. That’s why we recommend you act now and strike while the iron is hot.


If you have any questions about navigating this housing market, please call or email us. We are always willing to help!


Tags

interest rates, Homebuying, Mortgage

|

I agree to receive automated marketing calls and texts (SMS/MMS) from , its affiliates and their agents. Msg & data rates may apply. Msg frequency varies. Reply STOP to cancel. Consent is not required for purchase. I also agree to the Terms of Use and Privacy Policy.

home

Are you buying or selling a home?

Buying
Selling
Both
home

When are you planning on buying a new home?

1-3 Mo
3-6 Mo
6+ Mo
home

Are you pre-approved for a mortgage?

Yes
No
Using Cash
home

Would you like to schedule a consultation now?

Yes
No

When would you like us to call?

Thanks! We’ll give you a call as soon as possible.

home

When are you planning on selling your home?

1-3 Mo
3-6 Mo
6+ Mo

Would you like to schedule a consultation or see your home value?

Schedule Consultation
My Home Value

or another way