|
Mortgage rates have been declining for seven consecutive weeks, reaching their lowest levels this year. The drop from over 7% to the mid-6% range happened earlier than expected, a result of economic uncertainty and new tariffs. While this rate decrease provides Buyers with a good opportunity as we enter the spring market, mortgage rates remain volatile and could change quickly in the coming months. Waiting for further decreases comes with the risk of rates rising again. Even a small drop in rates significantly impacts affordability by reducing monthly mortgage payments. For instance, a $400K loan now costs over $100 less per month compared to when rates were at their peak in January. This savings can make a meaningful difference for those looking to buy a home.
If you're thinking of buying a home this year, you should carefully consider whether now is the right time to take advantage of this opportunity. If you have questions or are looking for guidance on where to start, call The Campbell Group to schedule a complimentary Buyer Consultation.
| 
