Current Interest Rates (February 2024)

Current Interest Rates

What's going on with interest rates? It's been predicted that they will come down as 2024 moves forward. The interest rates predictions at the beginning of January and at the end of December of last year, and even our rates today, are even less than they predicted in the fourth quarter and moving into the middle of the second quarter.

The Fed has not lowered rates yet and it appears right now that predictions for that are not going to be released until mid to late March, or maybe even after that. But the good news is that domestic mortgage rates have softened a little bit because of demand in that market.

But companies are out there doing things to work to help buyers and there are some loan programs that have five one buydown, seven one buydown, etc. There are some good products out there that offer a little bit of relief rather than just a straight 30 year fixed mortgage.

If you need to find out more about interest rates or mortgage programs, we have several fantastic lenders that we work with and recommend to our clients. I would be glad to refer you to them so you can find out exactly what's available. There are also some very good loan programs out there that didn't exist a few years ago.

So if you are ready to make your move and you need some questions answered about financing and how it works, please contact me!

804-350-0879 | [email protected] | chrissmallgroup.com

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It is my responsibility as your REALTOR® to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the market effectively to achieve your goals.

If you would like to know more about the current market, or if you have any general real estate questions, call or text me on my cell phone at 804-350-0879 or you can email me at [email protected].

If you are looking to begin a home search, visit my website to get started!