Cozy Homes for ‘Cooler’ Months + Mortgage Rate Drops

 

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Market Activity Rises as Mortgage Rates Drop

At the time of writing this week’s newsletter in late September 2024, mortgage rates for a 30-year fixed-rate mortgage are hovering around 6.1%, creating an opportunity for buyers to lock in lower monthly payments. This rate stability has led to many of our Buyers re-entering the market, and we’ve also seen a notable rise in pending listing activity across the board. We’ll be curious to track the pending listings in the coming weeks as a result of this rate drop.

With increased market competition, both buyers and sellers are benefiting from favorable conditions. Buyers are eager to take advantage of the lower rates, while sellers are seeing more interest and stronger offers due to renewed demand.

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