Exciting news! Last month, we witnessed the largest drop in mortgage rates in 3 DECADES!! creating a golden opportunity for both homebuyers and sellers alike.
According to Michael Nasserfar with Movement Mortgage, “The average 30-year fixed-rate mortgage dipped between 5.875% to 6.25%, providing an unprecedented window for prospective buyers to secure favorable financing. This is almost a full 2% drop from the heights seen earlier in 2023.”
We are already seeing more buyers moving into the market setting us up for what should be a busy Spring buying season.
However, Michael cautions, “there is the possibility of rates inching upward as the Fed continues their efforts to lower inflation. Urgency is key – now is the perfect time to capitalize on the lowered rates before the expected increase ahead.“
As the demand increases we likely will see an increase in home prices making it a great opportunity for home sellers who have been on the fence this past year.
And for buyers who have been waiting for the “bottom of the market” to buy, it’s here! Don't miss out on this limited-time window - now is the time to act swiftly to capitalize on the current buyer-friendly landscape before prices start to climb as we all saw occur starting in 2020.
If you have been thinking about buying or selling a home in Austin Texas, I would love the opportunity to help.
Lori Wakefield, Realtor | Keller Williams Realty | 512.657.4455 | www.LoriWakefield.com
And if you need a great lender or want to discuss your financial options, reach out to Michael Nasserfar NMLS 209485 | Movement Mortgage | 512.797.8916 | www.MichaelLoan.com
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