Why You Should Consider Buying a Home Before Mortgage Rates Fall

Heading into the New Year, Mortgage Rates Remain on a Downward Trend

The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down. Heading into the new year, the economy remains on firm ground with solid growth, a tight labor market, decelerating inflation, and a nascent rebound in the housing market.

Why You Should Consider Buying a Home Before Mortgage Rates Fall

There are likely millions of aspiring homebuyers diligently biding their time until mortgage interest rates fall into the low 6%—or even 5%—range before they jump into the housing market. However, doing so might wind up costing you more than if you’d bought when rates are higher. Waiting might even make it more difficult for you to find a home that meets your needs—and then beat out the competition to emerge with the winning bid.

Planning to buy a home in 2024? Here’s what to focus on:

  • Improve your credit score.
  • Plan for your down payment.
  • Get pre-approved.
  • Decide what’s most important to you.

Let’s connect so you have expert advice on how to achieve your home-buying goals this year! Call or text me at 702.423.0777 or email me at: [email protected]

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