New Big Mortgage Rate Falls Could Mean Highly Promising Spring Home Sales
Last month we took a look at mortgage rates, which at that point had sunk to their lowest levels in over a year.
What we didn't expect, especially so quickly, was the announcement toward the end of last week that interest for 30 year fixed-rate home loans had literally nose-dived in the biggest one week drop in over a decade!
The timing of this announcement should be music to the ears of so many buyers and sellers, coming as it does just as the busy spring season is getting into full swing.
While there have been some negative comments nationally concerning buyer activity in recent months, there's just no doubt that this latest fall in mortgage rates is likely to give the whole market a tremendous boost, just when it needs it!
In fact it's interesting how many times in recent years that rates have fallen at exactly the right time to stimulate home sales. It's hard to imagine a better moment for this to happen than right now when many buyers are very seriously considering their options for 2019.
The Federal Reserve has also indicated that we will see very few, if any, general borrowing interest rate hikes in 2019, which could also help to increase the perception of buyers that this is a great time to be securing their next home.
Many buyers will, quite rightly, not take the chance that the situation will continue indefinitely and lock in a low rate now, possibly even moving forward their projected moving plans.
Coronado sellers can only benefit from a greater footfall of prospective buyers viewing homes in the coming weeks so, if you've been on the fence about listing in the near future, why not reach out to us today on 619-886-0175, so we can help you to establish what's the best path for you at this extremely promising moment.