Gary, Great info on how waiting for rates could cost you! A little more food for thought on this same concept: How many more buyers enter the market of purchasing when rates go down (pent up demand)? What does that do for competition when bidding on a home? Black Knight estimates that for every 1% in interest rate fluctuation it adds or subtracts 1,000,000 buyers across the nation. So, if you wait until rates go down by 1%, you are also accepting that you are willing to enter into a much more competitive market, which may mean spending more time spinning your wheels getting out bid. It wasn't too long ago that buyers had to be very competitive and folks were only winning when they bid over ask, and over what the appraisal would even come in at.
Пікірлер: 1