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Should You Buy A Home Now Or Wait For Lower Mortgage Rates? | Positive Encouraging K-LOVE

Positive Encouraging K-LOVE

Homebuyers face quandary: To wait or not to wait for lower mortgage rates – Indianapolis Business Journal

Combined with a nearly 44% increase in the national median sale price of previously occupied homes between 2019 and 2023, elevated mortgage rates have made buying a home less affordable for many Americans.

Homebuyers' quandary: to wait or not to wait for lower mortgage rates

Shop for a home now or hold out for possibly lower mortgage rates? That’s a question confronting many home shoppers this spring homebuying season amid widespread expectations that mortgage rates could come down once the Federal Reserve begins lowering its own short-term rate. Economists generally anticipate that the average rate on a 30-year mortgage could start declining later this year after surging to a 23-year high of nearly 8% in late October. Holding out for more attractive rates could give homebuyers some financial breathing room. But there’s a potential downside to waiting: Lower rates can bring out more buyers, driving up prices.

Homebuyers' Quandary: to Wait or Not to Wait for Lower Mortgage Rates – The Yeshiva World

Homebuyers' quandary: to wait or not to wait for lower mortgage rates – The Morning Call