October 21st, 2024 12:21 PM by Sam Kader MLO130505
With housing inventory levels rising and interest rates at 20-month lows, I understand your dilemma if you're in a "wait-and-see" mode. Nobody wants to catch a falling knife, but no one wants to jump into a speeding car either. However, there are certain steps you can take to prepare yourself to take advantage of the opportunity when it arrives.
The next Fed meeting is planned for November 6th, 7th and December 17th, 18th. However, the next cycle for rate improvements might already be on its way and hopeful home buyers and refinancers should be careful not to expect immediate big dip in rates since any rate improvements from an impending news (good or bad) may have already been baked into current rates in anticipation of the future rate cuts or increases. That meant only a short window of opportunity exists when homeowners waiting to refinance must move quickly to take advantage to lock-in their rates. If you didn't act within a day or two of that particular window, those rates were gone. We can start your refinancing or Pre-Approval process without locking the rate.
In preparation - please let me assist you in the following items:
The objective is to prepare your file so that when you are ready to lock-in your rate - we can lock it and proceed quickly. Please check your current market rates here and please reach out to me at any time with any questions.