Robert Woehrle ...
Robert Woehrle ...
REAL ESTATE UPDATE

  company
       

 



               
THINK TWICE BEFORE WAITING FOR 3% MORTGAGE RATES




Pinterest



Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.



Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Macshares:




“While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.”





That’s potentially great news if you’re a buyer aiming to jump back into the housing market. Any drop in mortgage rates helps boost your purchasing power by bringing down your expected monthly mortgage payment. This means the lower mortgage rates experts forecast this year could be just what you need to reignite your homebuying goals.


While this opens up a window of opportunity for you, remember: you shouldn’t expect rates to drop back down to record lows like we saw in 2021. Experts agree that’s not the range buyers should bank on. Greg McBride, Chief Financial Analyst at Bankrateexplains:




“I think we could be surprised at how much mortgage rates pull back this year. But we’re not going back to 3 percent anytime soon, because inflation is not going back to 2 percent anytime soon.





It’s important to have a realistic vision for what you can expect this year, and that’s where the advice of expert real estate advisors is critical. You may be surprised by the impact even a mild drop in mortgage rates has on your budget. If you’re ready to buy a home now, today’s market presents the opportunity to get a more affordable mortgage rate, find your dream home, and face less competition from other buyers.




Bottom Line

The recent pullback in mortgage rates is great news – but if you’re ready to buy now, holding out for 3% is a mistake. Work with a local real estate expert to explore the options in your area and learn how today’s rates impact your goals.















KeepingCurrentMatters



     
  DID YOU KNOW?
 



   
  Earthship homes of New Mexico  
 
 





View Listing
12766 Mockingbird Lane








     









 

 

         

  box
         




           

  TRENDING



GENERAL NEWS & VIEWS
Feature Photo  
ARE YOU LOADING YOUR DISHWASHER WRONG?
A couple of scientists break down the best way to load your dishwasher.
 MORE


Feature Photo  
AIRLINES WITH THE MOST LEGROOM IN ECONOMY, RANKED
In a recent study, 78% percent of respondents shared that the seat on their last flight was uncomfortable, most crediting a lack of space as the top reason.
 MORE


Feature Photo  
THE EVOLUTION OF CREDIT CARDS
Using credit cards is extremely common today, with over 175 million Americans owning at least one.
 MORE




INTERESTING READS


Feature Photo  
SECURE YOUR LEGACY WITH ESTATE PLANNING 101
Estate planning is more than just transferring wealth. By planning, you provide peace of mind for yourself and your loved ones.
 MORE


Feature Photo  
WHICH GENERATION OWES THE MOST IN CREDIT CARD DEBT?
Americans collectively owe over $1 trillion in credit card debt, with one generation carrying the heaviest load.
 MORE


Feature Photo  
12 FAMOUS PEOPLE THAT HAD DYSLEXIA AND CHANGED OUR WORLD
Having dyslexia does not mirror an individual’s overall intelligence, and can actually be a source of creativity, resilience, and innovative thinking.
 MORE




 
           




         

 
 
Robert Woehrle ... 
4152879100 eee
robert33@woehrle.com
eee2

         



               

   



 
Robert Woehrle ... 
4152879100 eee
robert33@woehrle.com
eee2




   



   



 
Robert Woehrle ... 
4152879100 eee
robert33@woehrle.com
eee2