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Navigating the Market
The real estate market is hyperlocal. It’s not about what homes are selling for on average nationally or even across the state; it’s about what is happening in your neighborhood.
I am your local expert and can provide up-to-date information on home values, strategies for buying or selling, and market trends. I have chosen to partner with John L. Scott in part because they are an industry leader that is continually recognized nationally.
Seattle, Are Low Interest Rates Here to Stay?
Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!
This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say,
“Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract prospective homebuyers this spring and could help the housing sector regain its momentum later in the year.”
To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Mac believe rates will be by the end of 2019.
If you plan on buying a home this year, let’s get together to start your home search to ensure you can lock in these historically low rates today!