Mortgage Rates below 7%???

‘Unexpected Windfall’: Mortgage Rates Fall Below 7% for the First Time in Over a Month

  • Lower mortgage rates mean that buyers feel that getting a mortgage is more affordable. That means more buyers are entering the market. More buyers entering the market means more competition for available homes. Now is a great time to consider options for selling!

“Earlier in May, we saw sellers—many of whom are themselves buyers—cautiously pull back from listing their homes as mortgage rates increased and growth in new listings decelerated,” says Speianu. “However, mortgage rates have once again continued to soften this past week after several weeks of growth. In response to rates resuming their decline, more home sellers opted to list their homes for sale as growth in new listings picked up the pace once again.”

https://www.realtor.com/news/real-estate-news/mortgage-rates-fall-below-7-percent-housing-stats-week-5-23-2024

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