Changes in the Market --- With fewer buyers, bidding wars and high offers over the asking price are dissipating. Homes are sitting on the market longer. Inspection and appraisal contingencies are back, many sellers are reducing prices, and buyers can once again strike a bargain. The market is starting to get back to normal. Your personal circumstances and finances, not the state of the housing market, should be the deciding factor on whether you make an offer on a home or wait until prices and mortgage rates come down. Interest rate are higher, but I expect at some point rates will drop probably in 6 months - to a year, and you can refinance to bring down your payments. I’m seeing prices dropping 10,20,30 thousand dollars and more. This can be the best time to purchase your dream home at prices you can afford.
View Changes in the Market --- With fewer buyers, bidding wars and high offers over the asking price are dissipating. Homes are sitting on the market longer. Inspection and appraisal contingencies are back, many sellers are reducing prices, and buyers can once again strike a bargain. The market is starting to get back to normal. Your personal circumstances and finances, not the state of the housing market, should be the deciding factor on whether you make an offer on a home or wait until prices and mortgage rates come down. Interest rate are higher, but I expect at some point rates will drop probably in 6 months - to a year, and you can refinance to bring down your payments. I’m seeing prices dropping 10,20,30 thousand dollars and more. This can be the best time to purchase your dream home at prices you can afford.
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Changes in the Market
With fewer buyers, bidding wars and high offers over the asking price are dissipating. Homes are sitting on the market longer. Inspection and appraisal contingencies are back, many sellers are reducing prices, and buyers can once again strike a bargain. The market is starting to get back to normal.
Your personal circumstances and finances, not the state of the housing market, should be the deciding factor on whether you make an offer on a home or wait until prices and mortgage rates come down.
Interest rate are higher, but I expect at some point rates will drop probably in 6 months - to a year, and you can refinance to bring down your payments. I’m seeing prices dropping 10,20,30 thousand dollars and more. This can be the best time to purchase your dream home at prices you can afford.
Sample Mortgage Rates
For 4/25/2025
30 Year Fixed |
6.875% |
15 Year Fixed |
6.25% |
7/6 ARM |
7.125% |
For general informational purposes only. Actual rates available to you will depend on many factors including lender, income, credit, location, and property value. Contact a mortgage broker to find out what programs are available to you.
Mortgage calculator estimates are provided by ERA Live Moore and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.
