Robert Schiller’s latest take on mortgage rates and how they might influence the housing market. With improving inventory levels and low rates, we are seeing more traffic at open houses and in contracts going into escrow. Well qualified individuals that have been waiting on the sidelines have seen price appreciation in the areas they covet. They either need to pull the trigger and buy, or ratchet down their expectations and increase their geographic considerations. Yeah, it really is that simple. Buy what you can afford! Work with a qualified Realtor who knows how to represent a buyer’s interest, negotiate contracts, and close deals.
Falling mortgage rates may ‘stimulate’ home sales