2024 brings relief to buyers and sellers as rates potentially hit their peak in Q4 of 2023 and are predicted to come down this year into the high 5% range or around 6%. So far rates have dropped from a peak close to 8% but are still in the high 6% range fluctuating between 6.5%-6.8%
Market Analysis As we head towards winter we are seeing rates drop a bit, recently down at 7.2%. We are seeing homes sit on the market right now and this can sometimes translate into good deals for buyers. Looking out a little further, in recent weeks rates hit a high of 7.72% and mortgage applications
Buyers, Sellers Remain at Odds By Christine Cooper and Rafael De AndaCoStar Analytics March 1, 2023 | A reprieve in mortgage rates from November to January brought hope that the housing market was starting to loosen up, but recent data show that there’s still a long way to go to get the market into better balance. Sellers