Greetings!!
As you may have heard the United States credit rating has been downgraded. The markets did not like this news today and have reacted with a lot of volatility. It is important to remind our buyers that although the market has a lot of swings, we still have some great financial opportunities for them. In October 2022 we created an internal program that we are offering. If clients close with us from Oct 2022 through December 31st 2023, we will offer them a refinance through 12/31/2025 where we will waive all of OUR fees. We know rates are not where any of us want them to be. Yet we also know getting people in homes NOW is important. As soon as rates come down there is going to be another rush to purchase and with limited inventory this is going to be a challenge. We can secure them the home they want now and fix the rate later. Right now, the MBA is stating that it will still be a slower recovery. They anticipate rates coming down in to the low 6’s to high 5’s by Q4 2023 to Q1 2024. With them dipping in to the upper 4% range by Q4 2024. So we have some time before we are going to see relief from where rates are today. We all just need to hang in there!
See below for some great market data that might be of interest to you.
As always, we are here to help and happy to discuss any questions you may have.
Happy August and let’s close the summer enjoying the beautiful weather and taking some time to nurture ourselves and enjoy time our loved ones.