🙏Grateful for you: PRE’s November Newsletter

Our November Newsletter is out!

Admittedly, the graph above is a little bit mis-leading. Yes, rates did increase (so far) for this month as compared to last month but it’s important to note that we are still in a downward overall trend compared to a year high of over 7.20%.

Some of our buyers were able to lock rates in the low 6s for the first time over this past month. As a group, we are warning our buyers that if they wait until rates are low 6s or below, they may find themselves competing for homes. We experienced this with many of our buyers throughout the summer and into the fall, extending the Spring season in a way we have not experienced in recent years.

A link in the newsletter will take you to a Forbes article explaining that while the Fed did cut interest rates overall recently, the mortgage rates have not followed suit just yet. However, experts do feel that rates will continue an overall dip and that waiting for this to happen might not be the best move. Especially if rates fall dramatically as we head into the Spring of 2025. This would be a perfect storm for competition and home prices rising.

To discuss further with one of our agents, please reach out via our Calendly link to setup a time where we can review your individual situation.

To read the rest of our newsletter, please visit: https://mailchi.mp/parkway.realestate/nov-2024-newsletter

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