Have you considered Buying, Selling or Refinancing your property? Do you have a very low interest rate and want to access that home equity for another exciting home improvement project?
Opportunity may be around the corner.
Lower Interest Rates, mean that a Buyer may qualify for a larger mortgage loan when purchasing a property. It means Buyers can borrow more and pay less interest on those borrowed funds.
According to the Consumer Financial Protection Bureau, “Mortgage Interest Rates have risen over 5% since bottoming out in January 2021 at 2.65%, peaking at 7.79% in October 2023. “
Homeowners who are locked in at a high interest rate, may consider refinancing depending on their goals for the property investment.
Click here to read more from the Consumer Financial Protection Bureau.
| Data shows that 14.3% of existing mortgages, have interest rates above 6%. While homeowners who hold mortgages at rates less than 4% interest, are reluctant to sell, because they may not get a lower interest rate in today’s market. |
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