Housing Market News June 9, 2016

Mortgage Rates Drop This Week

If you’ve been looking to buy a home in Seattle or the Eastside recently, you’ve probably been overwhelmed with news of bidding wars, rising costs, and inventory shortages. We’re here to share good news that will keep you optimistic about jumping into the housing market.

According to The Seattle Times, long-term U.S. mortgage rates fell this week after three straight weeks of increases. The average 30-year fixed-rate mortgage slipped to 3.6 percent from 3.66 percent last week, which is well below its level a year ago. As for short-term mortgages, the report states that it is unlikely that the Federal Reserve will increase short-term interest rates at its upcoming meetings this summer.

What does this mean for you?

It means now is a great time for you to invest in your new home. You know as well as we do that mortgage rates fluctuate often, so securing a home is all about seizing the day (and house) when conditions are right – like they are now.

What does this mean for us?

It means we are ready to work with you to help you find your new home, and soon. Contact us today so we can help put the power of Windermere to work for you.

Read the full article on The Seattle Times.