We finally found some relief this week and rates improved quite a bit!
Couple headlines:
Mortgage Rates Technically at Lowest Levels in a Month (mortgagenewsdaily.com)
Bonds Boosted by Data and Well-Received Auction (mortgagenewsdaily.com)
While inflation has held rates stubbornly high, it hasn’t slowed buying much. Pending sales are up, prices are up and we’re still seeing a lot of competition. However, 75% of home buyers are FIRST time buyers which is great!
As much as I would love to see rates come down, inventory is still short, and more buyers will be coming off the fence as rates come down as well.
