Mortgage interest rates have, indeed, steadily declined over the past two months -- from 4.94% down to 4.45%. That is a half of a percentage point, which is a large decline given the range of mortgage rates we're seeing today.
So -- now we're back to where we were for much of 2018 -- or at least April through September.
Today's buyers will luck out with a low housing payment compared to what they would have expected two months ago -- IF (this is a big if) they can actually find something to buy in this low inventory environment.
Where do rates go from here? It's anyone's guess. This recent drop gives me hope that we could spend all of 2019 under 5%. We shall see!
Recent Articles: