When will rates come down?!

With 30-year mortgage rates coming down ~0.50% over the past several weeks, many homeowners are starting to take advantage of refinance options and savings on their monthly mortgage payments.

This is good news, as the Federal Reserve's push to dramatically increase rates to tame inflation over the past 2 years has locked many first time homebuyers out of the market.

This, in and of itself, is not the only issue we are seeing in the housing market.  Homeowners that purchased homes, or refinanced, over the past several years when rates were below 4% have decided to hunker down and put off selling their homes.

Our forecasts indicate that rates will continue to come down in January and February 2024, which could bring a strong spring market in Chicago.  

This a HUGE OPPORTUNITY and great time to strategically plan for your sale in the new year.

Not only will there likely be more homebuyers out there shopping, but the opportunity to take advantage of the lower rates for your next home purchase may come sooner than you anticipated.