03/11/2025
📈 Mortgage rates are hitting a 4-month low! 🏡💰
If you’ve been waiting for a better time to buy, this might be it. Rates have dropped 0.5% in just two weeks, the fastest decline in months. That means more purchasing power and better deals for buyers.
Here’s what that looks like:
✅ A buyer with a $2,500 monthly budget for principal and interest can now afford a $417,000 home up from $395,000 just days ago.
✅ The monthly payment on a median-priced home has dropped by $105.85 in two weeks.
✅ If economic data stays weak, rates could drop even more—but if not, they could bounce back up.
✅ Bonus - More inventory means more options and room to negotiate.
Give me a call if you’ve been standing on the sidelines waiting for better rates.
Jim