Mortgage Rates Hit Lowest Level Since May 2023: What It Means for You
Mortgage rates have just hit their lowest point since May 2023, dropping to 6.47% for a 30-year mortgage. This decline comes as 10-year Treasury yields fell into the 3.7% – 4% range, driven by positive inflation readings and lower-than-expected employment numbers. With rates dropping faster than anticipated, now might be the perfect time to jump into the market.
For example, if you’re eyeing a home with a median listing price of $440,000, your monthly mortgage payment could be over $300 less than it would have been last October when rates peaked. This savings opens up opportunities for potential homebuyers who’ve been on the fence, and the fall market may see a boost as a result.
Thinking of buying or selling? Let’s chat! This market shift could be your moment to make a move. Contact me today to explore your options!
#MarketShift #bhhs #RealEstateOpportunities #AuburnRealtor #mortgage #mortgagerates #interestrates #homebuying #homesforsale #realtoradvice
