12/15/2023
Great news today!! Buyers: Now is a great time to get into a new home. Once the rates drop there is going to be more competition and the multiple offer situation will start again. Give me a call and we can discuss it further. 772-359-7581
The Federal Reserve has paused rate increases for the fourth time this year. If you’re in the market for a house, is this good news?
To summarize: The Federal Reserve’s decision doesn’t impact mortgage rates directly. A Fed pause won’t necessarily cause mortgage rates to drop right away. But another pause indicates inflation is cooling. If the Federal Reserve has been able to successfully control inflation with its previous rate hikes, mortgage rates could start coming down soon.
In some ways, higher rates can even provide benefits. Many buyers are using the higher-rate environment to request seller concessions and/or negotiate a discount on a house.
