The Pros and Cons of Timing Your Move with Mortgage Rate Fluctuations
By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
If you're thinking about moving, you might be considering if it would be wise to hold off on selling until mortgage rates drop. Here are some details that might assist you in finding the answer to that difficult question.There is a well-established correlation between mortgage rates and buyer demand in the housing market. Higher prices are usually accompanied by decreased buyer demand. This is due to the fact that some prospective homeowners may be reluctant to take on a higher mortgage rate on a new property. They therefore make the decision to postpone their plans and wait it out.CLICK FOR YOUR FREE GUIDECLICK FOR YOUR FREE GUIDE However, things shift when interest rates begin to decline. Demand shifts from low or weak to high or robust. This is due to the fact that many of the purcha...
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