Waiting For Mortgage Rates?

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 WAITING FOR LOWER MORTGAGE RATES? YOU MAY NOT BE THE ONLY ONE.

With mortgage rates higher than many buyers would like, waiting can seem like the obvious choice.

But there's another side to consider.

If mortgage rates decline enough to bring more buyers back into the market, increased competition for available homes could put upward pressure on home prices.

We saw an extreme example of this during 2020 and 2021, when historically low mortgage rates, strong demand and extremely limited inventory contributed to rapidly rising home prices.

That doesn't mean history will repeat itself—and it certainly doesn't mean everyone should buy a home today.

It means trying to perfectly time the housing market can be difficult.

You may be able to refinance an interest rate later. You can't go back and buy the home at yesterday's price.

Refinancing is never guaranteed and depends on future rates, property values, credit, income, qualification requirements and costs.

Instead of trying to predict the perfect market, let's look at your numbers and determine whether buying makes sense for you.

For more information Click Here

 Rob Clark | Home Loan Consultant
Firestone Financial Group
 209-227-7745
 559-476-9279
 rbrtclark53@gmail.com
 robertclarkloans.com

NMLS #357788 | Firestone Financial Group NMLS #301522
CA DRE #01148307 | Equal Housing Lender

Loan programs, rates, terms and eligibility requirements are subject to change. All loans are subject to underwriting approval. Refinancing is not guaranteed. This information is for educational purposes and is not a commitment to lend.