Renae Stucki Realtor stumbled across this article on CNBC last week. We’ve been hearing a lot about a slump in the mortgage rate and we’ve tried to encourage buyers to lock the rate in while it’s low… It seems other agents across the country are doing the same.
According to this report, purchase applications jumped up 9% from January. You can read the article and watch a video clip HERE.
The important thing to realize is how this impacts our area. And that’s a simple thing to see. It will do to us what it’s doing to every other market in the country. Buyers have a window of opportunity to lock in a low rate. Lower than what’s normally being seen right now. But it won’t last forever.
The smart move is clear. Even if you’re not ready to start shopping… If you’re considering it, lock in a rate. Granted, it only holds for a short period of time, but if you can find a property in that time, you can save thousands over the life of your loan.
There’s no reason to wait. Call Renae to find out how a lower rate can improve your buying power and monthly payments. Don’t wait, cause the rate won’t.
