Interest Rates Decrease – Feds Say Inflation is Cooling Off?

INTEREST RATES DECREASE- FEDS SAY INFLATION IS COOLING OFF?
ATTENTION BUYERS ACT NOW!!
SELLERS PREPARE YOUR HOME NOW!
Received this from one of my preferred lender’s today!!
Thanks to James Nesbit, Academy Mortgage.

Why is this important to you as a homebuyer?
The minute the Fed talks about inflation leveling out or reducing, it gives the green light to start to decrease rates.

What effect does this have for you?
Normally my branch has between 150-200 buyers/homeowners that we are working at any given time or month. Right now, based on our last count at the end of October, we have 512 homebuyers that are pre-approved wanting to buy but waiting for rates to decrease. This is over 3 Times the number of buyers I have worked with in my 28-year career. Out of the 512 buyers, I only think we have less than 10% that are seriously actively looking to buy, everyone else is just waiting, waiting for rates to decrease. What will start to happen (usually after the holidays), when rates go down, many of these buyers will start looking to buy more seriously because rates have come down and they want to get in before rates decrease too much because supply is low, right now demand is low, but demand will start to increase.

Problem-
As more of our buyers start to come into the market, you will see seller concessions go away, price point reduction will not happen and most importantly, price points will start to move up, slowly, but the house today at $450K will be $500K+ in 6-12 months.

Solution-
Buy now while you can still get a deal, good price point, seller concession, etc. Once you close on your home, you are eligible to refinance once 210 days have passed from your first payment date.

Contact me if you have any questions or need assistance with your BUYING or SELLING your home. Let’s create a plan together to make your dreams happen!!