Mortgage Rates Fall to 12-month lows!
March 4, 2019 | Dwell JC
|Although the 30-year fixed mortgage rate was expected to stay above 5 percent in 2019, it fell to a ten-month low of 4.46 percent during the last week of January. Now it has fallen even further to just 4.35%, a 12-month low, and is expected to stay low for the rest of this year. This is great news if you are thinking of buying or selling a home in 2019.|
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According to Mike Sudol at Loan Depot, the “unexpected drop in mortgage rates — inspired some home buyers into action ahead of the busy spring sales season, spurring an early rush of mortgage applications.” Potential home buyers who are crossing their fingers and waiting for home prices to fall may be disappointed as home prices resume their upward trend.
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Historically low mortgage rates, combined with a shortage in existing housing stock, means home sellers will continue to have the upper hand for the foreseeable future. If you are interested in learning what your home may be worth, please contact me for a free comparative market analysis. It may be worth more than you think!