RATES FALL BELOW 6% - IS this your moment?

by Matt Thomas

RATES FALL BELOW 6% - IS this your moment?

For the first time in over 3 years, rates finally dipped below 6%…and that's exciting--if you need it to be! That's also headline news and while we don't ever push clickbait that's not meant to shock anyone into taking unintended actions.

What do we mean by that? While opportunities abound in each market and can vary week to week or month to month, buyer demand is relatively predictable. In fact, it follows almost the same season pattern every year, just with unique variation.

When rates drop below 6% that could be the sweet spot for someone, maybe it's you. But maybe not. If you're definitely a buyer at 5.99%, you were very likely a buyer at 6.25%. Though a lower rate is more favorable, if your situation can't handle a quarter point of variation, you're most likely not ready to buy yet--and that's OK. Again, this is meant as an opportunity to make plans for when it's right for you. Refinancing? You may actually need to jump!

When we say that opportunities are fleeting, momentary, and temporary, that's for those who are ready. No matter what stage of the homebuying process you may be in, the goal should never be “buy now” as if you're trying to win a bid on eBay. Rather, together with a professional mortgage lender, our goal should be to find:

the right location
the right layout
the right timeline
the right lifestyle
at the the right payment for you.

This is a market that rewards good decisions. Let us be your guide through the decision-making process.

Mortgage Minute

Anytime there's mortgage news worth sharing, we shoot a video to keep you aprised of the opportunities that you need to know about.

This was one of those times. Please take a look.

Takeaways from our latest Mortgage Minute:

Rates dipped below 6% for the first time in years.
Could Trump's proposals positively impact affordability?
Increased buyer activity indicates an increasingly competitive market.
Concessions for buyers may decrease as competition rises.
Understanding market dynamics is crucial for homebuyers.

BOTTOM LINE

Market dynamics always vary week to week, but follow distinct seasonal patterns over all. Our goal is to help you understand where your opportunities lie, if you're in the market, or even intending to be.

If your plans include a home purchase (or home sale) this year but you're just not sure if you're ready, please just reach out. We are real estate consultants. We're here to answer questions, lead and guide you through the pitfalls and the opportinities of today's market.

Call us. 303.269.1617.

GET MORE INFORMATION

Matt Thomas

Consultant | Broker Associate | FAFA100030130

info@altituderealestategroup.com

+1(303) 269-1617