If you paused your home search earlier this year, hereβs some encouraging news:
β Mortgage rates have eased β down from ~7% in May to about 6.3% today, saving nearly $190/month on a $400K loan. β Home price growth is cooling β gains are now in the low single digits nationally, with some markets even dipping. β Wages are rising faster than prices β up roughly 4% year-over-year, helping buyers keep pace.
The result? The typical monthly payment is about $290 lower than just a few months ago.
π This shift makes fall a better time to buy than weβve seen in months. Letβs run your numbers and see whatβs possible.
Source: Keeping Current Matters
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.