Americans Warming Up To Housing Market
Americans are slowly warming up to the housing market as rates cool, though affordability is still out of reach for many. That’s according to Fannie Mae’s Home Purchase Sentiment Index, which increased 1.8 points in September to a reading of 73.9, its highest level in more than two years.
This has been one of the busiest Octobers that I can remember. Smart purchasers that are motivated and lined up to make something happen are able to negotiate right now. By taking action and not waiting for rates to come down, they will be able to take advantage of their leverage in the market (high inventory, low demand), knowing that they will likely have a chance to refinance in the next year and get a two for one deal (low price, low rate). This is the turn of the season where Sellers start pulling out of the market due to weather and inventory naturally drops. I think it might be a good opportunity for motivated sellers to stick it out in hopes of making a deal with a Winter shopper while their options (inventory) start to dwindle. If you want to know my personal opinion on your specific situation or property, please don't hesitate to reach out! 541.525.9955
- Greg
What's new with Mortgage Rates?
 | The Benefits of Using Your Equity To Make a Bigger Down Payment Want to boost your buying power? Learn how using your home equity for a larger down payment can help you secure a better deal on your next home. |
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