What Mortgage Rate Are You Waiting For?

Let’s be honest — mortgage rates have made buying a home feel a little out of reach lately. But here’s some good news:
Rates are starting to come down — and they’ve even hit their lowest point of 2024 so far, according to Freddie Mac.

So, if you’ve been waiting for a better time to buy, now’s the moment to start paying close attention.

📉 Will Rates Keep Dropping?

Experts believe rates will keep trending down if inflation cools and the economy stays steady. There might be small ups and downs, but the overall trend looks promising.

✅ Compared to last May, mortgage rates are already down about 1%
✅ Many forecasts now expect rates to dip into the low 6% range later this year
✅ Realtor.com recently revised their 2024 forecast to a year-end average of 6.3%, down from 6.5%

💡 Know Your Magic Number

Here’s the big question:
What mortgage rate would make you feel comfortable buying?

Maybe your number is:

• 6.25%

• 6.00%

• Or even 5.99%

Whatever it is, you don’t need to track the market on your own. A local real estate agent can help you:

• Monitor the trends

• Understand how much home you can afford at each rate

• Let you know when it’s time to jump in

As Freddie Mac’s Chief Economist Sam Khater puts it:

“The decline in mortgage rates does increase prospective homebuyers’ purchasing power and should begin to pique their interest in making a move.”

✅ Bottom Line

If higher mortgage rates have kept you on the sidelines, now’s the time to start planning.
Pick your “magic number” — and let’s chat about how close we’re getting.

Finding ways to make your credit score better could help you get a lower mortgage rate. When you’re ready to get the process started, let’s connect.