Interest rates are at a two year low. Who knew!
There have been so many predictions over the past several years that rates were headed higher and higher and while they have fluctuated a bit – today it’s like free money! Our economy as well as the real estate market is unpredictable. But one thing is for certain, if you are or were on the fence about buying – either for the first time, selling and getting a bigger house or even ready to downsize and get into your retirement home – now could be a great time to make that happen. Most markets in our area are still great for sellers if the home is marketed and priced accordingly – and inventory is up (24.5% as of May) which means more for buyers to choose from.
Multiple offers are still the story again in some markets – but with more to choose from it’s doesn’t seem as frenetic. So why does all this hub-bub matter when it comes to interest rates – well it really can effect what you can buy. BUYING POWER is the answer – and with low interest rates you can afford more. And in our area – that makes a big difference. Which brings me to the information seen here – it’s a great depiction of what waiting, or what a changing interest rate can mean to you and your bottom line.
So when you’re ready to talk about finding your next community – let’s chat – I can help!