Recent Mortgage Interest Rate Drops…

23 Aug Recent Mortgage Interest Rate Drops…

With recent mortgage interest rate drops, there has certainly been an influx of refinance work available. I know this to be true as I’ve been solicited from some companies that I normally don’t complete much or any work for. The ability to refinance has been advantageous especially for buyers who recently bought over the past year or so when mortgage rates were much higher.

But what about sales volume and price trends? While I’ve seen inventory shrink is some areas, I am generally not seeing any sudden break out upward price trends. If anything, it’s possibly spurred a buyer to lock something down with a purchase before rates fluctuate upward again. Much of the data I am observing is generally fluctuating. The next few months of data will be interesting to observe.

The one thing that is certain is that nobody really knows where the trend is going anymore. As we began 2019, most weren’t expecting an interest rate drop and here we are. With economic uncertainties, the markets can change at any time so I believe it’s important to recognize that and have a strategy in place with not just real estate but all forms of investing.

Agents: what are you observing from a market standpoint? I’ll be curious to see how fall develops around the corner.

Bryan Lynch
Certified Real Estate Appraiser
Office: 530-878-1688
Bryanclynch@gmail.com
Roseville Office : Auburn Office
www.AdvantageAppraisalsCa.com

Disclaimer: All information deemed reliable but not guaranteed. The information is meant entirely for educational purposes and casual reading only and is NOT intended for any other use.  This information is NOT intended to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or other potential real estate or non real estate purpose. This appraiser is NOT a qualified home inspector and any tips are for informative purposes only. If you’d like to obtain and order an appraisal for your specific needs, please contact Bryan at 530-878-1688 for more information.