Mortgage Rates Just Took a Tiny Dip—But What Does It Mean for You? 🏡💰

If you’ve been waiting for interest rates to come down before making your next move in real estate, here’s some news for you:

📉 The 30-year fixed mortgage rate just dropped slightly to 6.89% (down from 6.95% last week). A year ago, we were at 6.64%.
📉 The 15-year fixed mortgage rate also dipped to 6.05% (down from 6.12% last week). Last year? 5.90%.

So, what does this mean?
👉 Buyers: A small dip may not seem like much, but every fraction of a percent matters when you’re borrowing hundreds of thousands of dollars. This could mean slightly lower monthly payments, depending on your loan amount.
👉 Sellers: Lower rates may encourage more buyers to jump in, which could mean stronger offers on your home.
👉 Homeowners: If you’ve been thinking about refinancing, we’re not quite at a sweet spot yet—but it’s worth keeping an eye on.

🚨 Should you wait?
Rates are still high compared to a few years ago, but if you’re financially ready to buy, waiting too long could mean missing out on your ideal home. Timing the market perfectly is nearly impossible, so focus on what you can afford now rather than waiting for rates to drop further.

🔑 Thinking of making a move? Let’s chat! I can help you navigate the market and make the best decision for your goals.

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