Real estate agents are seeing swelling demand from buyers as mortgage interest rates plummet and home buying actually gets cheaper. Demand for mortgages has risen to the highest level since fall of 2016!
What does this mean for you?
If you are looking to purchase a home you should check in with your lender as your options may have changed.
If you are selling soon it is an excellent time to get your home on the market, as buyers want to lock into the low interest rates. Combine this with our current low inventory in the Sun Valley area and you have a recipe for success!
The latest news of falling mortgage rates came Thursday, when a new survey from Freddie Mac revealed that the average for a 30-year fix-rate mortgage had dropped from 4.28 percent to 4.06 percent — the biggest single-week decline since 2008.
Last fall predictions were for rising interest rates in 2019. By December, regulators had raised the federal interest rates four different times and many were bracing for additional hikes in 2019. Those predictions have not materialized and we are seeing good activity in real estate.
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