No April Fools Joke. Interest Rates Take a Dive
I know that it was April Fools day yesterday but this is no joke. The 30-year interest rate dropped this week back down to around 4.0% and some lenders are saying lower.
Real estate is a funny business. Take our current market conditions as an example. Right now in most of America, the number of homes available for purchase is extremely low. This is causing a huge buildup of buyers waiting on the perfect home to hit the market. In turn, the home values are increasing which make it harder for some buyers to get afford purchasing a home. But, the price of renting a home is also climbing and getting higher every day. At the same time, we now get word that the interest rates have now taken a huge drop and have hit close to or below 4.0% for a 30-year mortgage. The lower interest rates make purchasing a home easier but we are still stuck with low inventory. It’s like a never-ending crazy circle.
The Silver Lining
The combination of
So, when do you plan on selling your home?
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