“Keeping its inflation-fighting streak alive, the Federal Reserve has raised interest rates for the 10th time in 10 meetings. The hikes aimed to cool an economy that was on fire after rebounding from the coronavirus recession of 2020.”While the Fed’s actions don’t directly dictate what happens with mortgage rates, their decisions do have an impact and contributed to the intentional cooldown in the housing market last year.
“Mortgage rates are likely to descend lower later in the year as the consumer price inflation calms down”Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), explains:
“We continue to expect that mortgage rates will drift down over the course of the year as the economy slows"While there’s no way to say with certainty where mortgage rates will go from here, the experts think mortgage rates will trend down this year if inflation comes down too. To stay informed on the latest insights, connect with a trusted real estate advisor. They keep their pulse on what’s happening today and help you understand what the experts are projecting and how it could impact your homeownership plans.
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Buying a home is a big decision, and it should be one you feel confident making.
Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home.
Today’s housing market is different than it was in 2008.
Over the past year, home prices have been a widely debated topic.
If you want to sell your house, consider doing it this summer.
Today, the market’s changing, and buyers can usually be more selective and take more time to explore their options.
Providing clients with ultimate bespoke representation, customized marketing strategy, and a culture built on service. Excelling in exceeding expectations for buyers and sellers.