May 31 2019

Layne and Rachel Harrison


As we are nearing the end of the spring real estate market, the environment is positive for buyers and sellers. Due to the recent drop in the U.S. 10 Year Treasury, mortgage interest rates have dipped again in the last few weeks. The rates are hovering around 4% and possibly even lower in some loan scenarios. Of course, lower rates means it's less expensive to borrow money and it increases buying power while saving clients money over the life of the loan. There are many buyers actively looking for a home which is great news for sellers. There is also a steady amount of homes coming on the market. Home prices are still very strong, but with more choices for home buyers, homes that are priced too high are not selling. Desirable homes priced correctly are still selling relatively quickly within the first few weeks of being on the market. The drop in interest rates is having a favorable impact on the real estate market!