Will Your New Years Resolution Be To Buy A House?


Will Your New Years Resolution Be To Buy A House?
By Scott Rogers • December 28, 2023
For whatever reason, the close of one year and the start of a new year cause many of us to pause and reflect on the big picture. What do we hope will remain the same in the new year? What do we hope to change in the new year? If you are considering a home purchase in the new year, here's one bit of welcome news... Mortgage interest rates have been falling steadily for the past eight weeks! In October, the average 30 year fixed mortgage interest rate peaked at 7.79%. Since that time, they have dropped all the way down to 6.67%. Rates actually started the year (Jan 2023) at 6.48% -- so we're closing out the year a touch higher than that, but things are headed in the right direction. It definitely seems possible that we'll see mortgage interest rates between 6% and 6.5% some time in the first few months of 2024. So, if your new years resolution is to buy a home, let's set up a time to meet to discuss the process and the market -- and you should talk to a lender sooner rather than later to get prequalified for a mortgage. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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