Rates have dropped! Time to act is now before inventory reduces further!

For those who were waiting for the rates to drop your patience has paid off! As of yesterday, the rate for a 30 year mortgage dropped to 6.73% the lowest it has been since early February of this year. This also coincides with the what we traditionally see as the “last breath” of the busy season in the New England housing market. Usually, by the end of September inventory is starting to drop and most people will wait until the following spring to list. What does this mean for buyers? This is the time! If you are looking to get into a home this year, it is a perfect opportunity to lock in your rate and get serious about home shopping. If rates continue on this downward trend of course there will be more buyers in the market and the already fierce competition for homes will increase even more as inventory starts to decline. If you want more information or further explanation please feel free to reach out. I am happy to answer any questions.

Kelly White 508-962-4069