Good news for homebuyers and homeowners — mortgage rates have moved lower for the third week in a row, reaching their lowest point since the spring.
Recent economic data, including a weaker-than-expected jobs report, has helped ease some of the pressure on interest rates. The Federal Reserve also decided to keep its benchmark rate unchanged at its most recent meeting, signaling they’re watching how the economy responds before making their next move.
Buyers: Lower rates can improve your purchasing power, meaning you may qualify for a larger loan amount or have a lower monthly payment compared to just a few weeks ago.
Homeowners: If you’ve been considering refinancing, now may be a good time to explore your options — especially if you can shorten your loan term or reduce your interest costs.
Market Conditions: Inventory is improving, and home price growth is slowing in many areas. This combination, paired with lower rates, may create opportunities we haven’t seen in several months.
Every borrower’s situation is unique, so the best way to know what today’s market means for you is to have a quick conversation about your goals and numbers.
If you’d like a personalized review of your options, contact me today — no obligation, just straightforward answers.
