Weekend Update: Rates Dropped! What Impact Will This Have on Demand?
Published 1 month ago
The flip side of lower rates: *a lot* of households can get priced back into the market. Keep in mind, these are households who at one point over the last couple of years could afford to buy a home, for one reason or another they did not, then found themselves on the outside looking in when rates hit 8%. Buying a home wasn't even an option. As rates drop, it becomes an option again. Time will tell how many of them jump back into the housing market, but this is a dynamic worth noting and relaying to potential buyers who can afford to buy now. Rates dropping leads to more competition, which can potentially put upward pressure on prices.
This weeks featured videos in the sidebar:
- How Mortgage Rates Work
- Is Now a Good Time to Buy in Oregon?
- Are There Tax Benefits to Buying a Home in This Rate Environment?
- Should You Wait for Interest Rates to Drop Before Buying a House?
Also including an accompanying infographic for the last video: what higher interest rates have done to buyer demand (and what to expect if rates reverse).
For more information on what's driving the mortgage rate environment (and what to look for moving forward), visit this page: https://www.gavinhamiltonloaninfo.com/resource/94741/
For more information on what's driving home prices, visit this page: https://www.gavinhamiltonloaninfo.com/resource/99201/
Please contact me any time this weekend if I can be of any assistance!
(310) 422-4731 (call or text)