Freddie Mac’s chief economist said rates will continue to go down as inflation decelerates. Mortgage rates are at the lowest level since May.
A good sign when long term rates fall on the news that the FED is holding off on cuts to the Key rate.
Reports that it may be May before the next cut by the FED, as he waits to ensure the economy is holding steady.
Keep in mind that waiting for rates to come down will not always result in lower payments, as its expected that housing prices will continue to grow, albeit moderately, as rates come down. In essence, in some cases the change in one is wiped out by changes in the other.
And remember, unless you know for sure that prices will come down, selling and buying in the same “market”, time wise, eliminates the risk of being priced out of the market; when selling and waiting.
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