02/20/2025
🏡 Rates are Easing! The average 30-year fixed mortgage rate has dipped to 6.85% (from 6.87% last week). At this rate:
🔹 20% down on a $400K home = $2,097/month
🔹 10% down = $2,359/month
💡 What Does This Mean for You?
✔️ Rates are stabilizing in the mid-6% range, giving buyers confidence to plan without rate uncertainty.
✔️ Despite rates dropping 5 weeks in a row, mortgage applications are down—low inventory keeps affordability a challenge.
✔️ Over 25% of buyers are paying in all cash, making them less affected by interest rates.
🚨 Thinking about buying? We can guide you through the process and connect you with a trusted lender to make your homeownership dreams a reality! Let’s chat! 📩💬