The 3-Year Low You’ve Been Waiting For
The 3-Year Low You’ve Been Waiting For Stop Holding Your Breath: Mortgage Rates Just Hit a 3-Year Low If you’ve been sitting on the sidelines waiting for a sign from the universe (or the Fed) to finally make your move, consider this your wake-up call. We’ve officially hit a turning point. The average 30-year fixed-rate mortgage has eased to 6.06% , down from 6.16% last week. To put that in perspective, this is the lowest level we have seen in more than three years. Here is the real talk on what this means for your wallet and your next move in Palm Beach County. The Power of the Pivot Just one year ago, we were staring down rates averaging 7.04%. The drop to 6.06% isn't just a tiny dip; it’s a massive boost to your purchasing power. While the market has been in a slump due to high prices and even higher borrowing costs, this shift is finally opening the door for buyers who felt shut out. Not Just for Buyers If you already own your home but were cursed with one of those 7%+ rates f...