Mortgage rates are currently nearing all-time lows.
Nervousness in speculative financial markets is, conversely, generally good news for mortgage rates and there are now widespread predictions that they could descend below all-time record lows!
The timing simply could not be better, as spring approaches and many sellers and buyers enter the market.
Here in Iron County, we're tracking some interesting trends that demonstrate how great buyer sentiment already is, with rates having been at low levels for some time now. Last month, for example, we say a dramatic drop in the average number of days a home is on the market before it sells.
We're also seeing the level of inventory of available homes for sale take a similarly spectacular fall in recent months. This creates a wonderful environment for sellers with much reduced competition and far more robust asking prices, with the distinct possibility of multiple offers as more and more buyers search for homes in the coming weeks.
It really is a win/win for buyers and sellers alike right now, so why not contact us today to discuss the best way for you to take full advantage of the situation.
