This year we've already seen quite significant rises in mortgage rates.
It's not the first time that it's happened before, only for something to come along that suddenly halts the upward climb.
We saw this a couple of years ago as the pandemic took hold and rates have just taken a slight fall, this time largely as a result of the current international tensions.
Quite how far they continue to move south depends, to an extent, on how long the current crisis lasts. Any uncertainty in financial markets usually gives rise to risk aversion. This generally results in lower mortgage rates.
For now, however, a window of opportunity could exist to seize the moment and lock-in a low rate. And if you're intending to list, moving your plans forward could have the benefit of capitalizing on some very frenetic and positive buyer sentiment.
As ever in real estate, the only certainty is that which presents itself in the current moment. The future is always guesswork but, until the events of the past few days, the trajectory of mortgage rates was very much in the ascendancy.
Whether you're buying and/or selling, contact us today at 435-327-2090 to discuss your best options.
