Can we just talk about how low-interest rates are?
With the Fed set to meet again at the end of this month, we’re still seeing rates in the high 3%’s/ low 4%’s. This is just mind-boggling that borrowing money can be so reasonable. With offers, we’re seeing home buyers leverage their purchasing power and keep more money in the bank and take advantage of financing as much as they can. That doesn’t necessarily mean that buyers aren’t more qualified, it may just mean that they’re taking advantage of keeping as much money in the stock market or other vehicles while they can.
Will rates go up again? Only the Fed Chairman knows. In the meantime, double-check your home loan interest rates and let us know if you need contacts for a refinance. And if you are looking to purchase, wow is it a good time.