According to Market Watch, this week we saw a third straight drop in mortgage rates. Pulling data from Freddie Mac, Market Watch reports that the rates on 30-year fixed mortgages fell to 4.09% (down from 4.12%) and 15-year fixed rates have a 3-week average of 3.34%. This of course comes after the post-election spike in rates, that caused a slow-down in the real estate market leading into the New Year.
What does this mean to you?? From a buyer’s perspective, the results are direct – it may be easier than a few months ago to get approved for that mortgage. Meaning, BUY NOW!! If you’re a seller, or thinking to sell, breathe easy. The clouds are clearing and it looks like those long-awaited buyers will be freed to purchase!
What experts were calling the “Great Rotation” where investors shifted huge sums of money to the tune of over $3 trillion from bonds to stocks seems to be “fizzling” and the added effects that investment shift had seem to be loosening their grip on the real estate market!! Here in Austin where we tend to be slightly isolated from national economic shocks, those effects were less felt – but all the same here!
Now that we’re looking up, there is no time like the present to hit the market! Sellers, let’s get selling!! Find out how we can help here. Buyers, need a showing scheduled, click here and we’ll get some weekend appointments set up! –Talk Soon!! Ashley.
To see Market Watch’s full report, click here.