Interest Rates Are Finally Falling: What You Need To Know

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!