Are The Mortgage Rates Going To Go Down?

Are The Mortgage Rates Going To Go Down?

So although the Fed dropped the rates by 50 basis points, mortgage rates haven’t really followed suit. And what I mean by that is even though mortgage rates are lower than they have been around this time last year by 1.37 %, they aren’t significantly lower as people would have hoped they would be.

And some of that is due to the fact that it was already believed that the Fed were already going to drop the rates. So mortgage rates were already slowly coming down before the Fed cut the rates. And so what you can expect for the remainder of the year, according to Forbes Advisor, they believe that with all the experts they spoke to, is that the interest rates will stay about the same, maybe go up to the mid 6’s or get down to the high 5’s.

So if you’re think about buying a home, waiting is probably not going to be the best idea. This is also the time that most people who were looking to buy, they may have (decided to) waited until next year, so you could have a good opportunity there.

And so if you have any questions, please reach out to us. Please share with anyone you think it’d be helpful to.

This has been “Are The Mortgage Rates Going To Go Down?” by Patrice Henderson of Designed Living Real Estate. Be sure to subscribe to her YouTube channels for all your real estate tips, home tours and advice.

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