If you were waiting until after the election or for the Fed to lower the rates before looking into a mortgage loan, you are not alone. Many Americans have been playing the waiting game for a home purchase, but there are a lot of compelling reasons to start your mortgage search now.
- Mortgage rates are lower than they were a year ago (around 6.60% for October 2024 as opposed to 7.79% in October 2023).*
- The median home price in Arkansas went down to $207,627 for September 2024, following 15 months of year-over-year increases.**
- We’re seeing more houses staying on the market longer while receiving fewer over-asking prices in our communities right now.
- We’re here to help you determine which mortgage is best for your budget and individual circumstances.
No matter your goals and timeline, we’re here to help you navigate the mortgage process. Give us a call today to discuss your options!
*Sources: Business Insider, Mortgage Reports
**Source: Bankrate