2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers
If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now ( see graph below ): And while they’re not going back to the 3% we saw during the ‘unicorn’ years , they are expected to continue to go down from where they are now in the near future. As Dean Baker, Senior Economist at the Center for Economic Research , explains : “It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent , which would be low by pre-Great Recession standards.” Here are two reasons why this recent trend, and the expectation it’ll continue, is such good news for you. You May Not Feel as Locked-In to Your Current Mortgage Rate With mortgage rates already significantly l