Mortgage rates are moving higher, and the latest Federal Reserve comments have added more uncertainty to the market. So what should homebuyers do right now?
This week's Rate Watch breaks down the latest mortgage market turbulence and shares 3 important takeaways for homebuyers navigating today’s interest-rate environment.
🏠 This video also discusses:
Why mortgage rates reacted negatively to the latest Fed comments
What rising mortgage rates could mean for homebuyers
Why you shouldn't necessarily wait for rates to come down before buying
Why locking your mortgage rate early can help protect you from market volatility
How a mortgage broker may be able to help you get a lower rate if rates improve before closing
Why finding the right home can sometimes matter more than trying to perfectly time mortgage rates
How Dave can connect you with a trusted real estate agent through his professional network
3 Key Takeaways for Homebuyers
1. If you find the right home and can afford it, consider buying.
There’s no guarantee that an equivalent property will be available later—or that it will cost less.
2. Consider locking your mortgage rate early.
Mortgage-market turbulence can work against you. Once you're ready to go into contract, talk with your mortgage professional about your rate-lock strategy.
3. Ask about a float-down option.
Depending on your loan and lender, you may have an opportunity to benefit if mortgage rates improve between locking and closing.
The goal isn't to perfectly predict the mortgage market. It's to make a smart home-buying decision based on your finances, the property you want, and the options available to you.
Need a mortgage professional or a great real estate agent? I'm here to help and can connect you with trusted professionals in his network.
👍 If you found this video helpful, please like the video and subscribe for more mortgage market updates, home-buying tips, and real estate insights.
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Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
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Connect with me:
Office: 718.575.1166
Email: dave@summitfunding.com
https://summitfunding.com
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Summit Funding | Registered Mortgage Broker (NMLS #52081) New York State Department of Financial Services
7030 137 Street, Kew Gardens Hills, NY 11367
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