Monday Market Update: Mortgage Rates at 10 month low

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Courtesy of Allen Standfield 228-383-5661

More great news for Mississippi Gulf Coast real estate.  The slight dip in residential sales nationally this past December helped push the recent mortgage rates to a 10 month low.  On the Mississippi Gulf Coast, the first few weeks of the new year seemed to follow that downward trend, but January ended on an incredible high with a total volume increase of 15% over January of 2018. 

What does this mean?  It means 2019 looks to be a great year for buyers (and sellers).  While home prices have continued to sharply rise over the past few years, many national predictions see a more steady market in the near future.  This isn't necessarily a bad thing as even very recent buyers values should put them in a place to capitalize on their investment.  

For sellers this should encourage those who have been thinking about selling to go ahead as opposed to continuing to wait for an increase in value.   For buyers, the prospective influx of inventory, combined with the lowered interest rates makes the time to buy now.  Looking forward to a very active 2019.  

https://magazine.realtor/daily-news/2019/02/08/mortgage-rates-fall-to-10-month-low
https://www.cnbc.com/2019/02/07/americans-are-starting-to-feel-better-about-buying-homessort-of.html