Before you fall in love with your dream home, you better make sure you can afford the monthly payments and other homeownership costs. Take stock of your financial situation.Here are some other ways you can improve your chances of getting the best deal: Even lowering your rate by a few basis points can save you money in the long run. For example, advanced preparation and meeting with multiple lenders can go a long way. Though lenders decide your mortgage rate, there are some proactive steps you can take to ensure the best rate possible. “I’m expecting mortgage rates to be a bit less volatile in 2024 and, data surprises aside, continue to slowly ease down over the course of the year.” If current trends continue, consumers can expect to see Treasury yields decline and mortgage rates come down along with them.” Fed policy will be contingent on continued progress on inflation. “While softening economic data and indications from the Fed hint that the rate cut cycle could begin sooner than expected, it is worth proceeding with caution as it pertains to mortgage rates.
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