It’s a horrific market currently, and the 7-9% interest rate range is insane. Thankfully with how interest rates fluctuate, and with it being expected the fed will pull back their inflationary policies in September, it can reasonably be assumed that rates will fall to a much more manageable level by the end of the year or early 2025.
Plus 2019 was a buyers market with very good interest rates in the low 3% range, which imploded further with Covid to record lows of 2%.
With how the housing market is right now, holding off and waiting is definitely the best option. It is the worst possible time to get a fixed rate.
7.5% is a lot closer to what’s getting offered now. It’s really insane.
It’s a horrific market currently, and the 7-9% interest rate range is insane. Thankfully with how interest rates fluctuate, and with it being expected the fed will pull back their inflationary policies in September, it can reasonably be assumed that rates will fall to a much more manageable level by the end of the year or early 2025.
Plus 2019 was a buyers market with very good interest rates in the low 3% range, which imploded further with Covid to record lows of 2%.
With how the housing market is right now, holding off and waiting is definitely the best option. It is the worst possible time to get a fixed rate.
Yeah, it’s not great. Hopefully people who need to could refinance when rates lower.
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