How buyers and sellers can get ready for lower interest rates.
It’s hard to believe, but it’s already December! As we head into the new year, major changes are happening in our market; namely, interest rates are trending down for the first time in a long while. What does this mean for you, and what can you do to prepare for our new market?
First, if you bought a home within the last 24 months or so, it isn’t time to refinance just yet. Many homeowners who purchased during this period did so under the assumption that rates would eventually fall. Once that happened, they simply planned to refinance. This is still a good strategy, but the moment of opportunity is still a little ways off.
“Get all your documents ready now so you can make a move as soon as possible. ”
That being said, homeowners looking to refinance need to be ready to pull the trigger at a moment’s notice. Get all your documents ready now so you can make a move as soon as possible.
Meanwhile, those looking to buy or sell in the near future need to start making their plans today. Sales are ticking back up, and this trend is only going to continue as rates fall. To stay competitive in the market, you need a plan, so call or email us if you have any questions. We look forward to hearing from you!
