09/30/2024
Wow, just pulling up mortage rates on a Monday morning and noticed: 2 lenders offering 5.5, 17 lenders offering 5.625 and so on. Sure, these are rates for the best qualified clients but still. I wonder what the rates need to get to before more people start to look at making a move. The shortage of homes on the market has really driven prices up in our area. Curious to see if dropping rates will lead to more homes on the market because people are willing to move and not sit on their current rate. OR if dropping rates will spur even more demand and create more shortgages.
