Mortgage interest rates could soon fall again. Here are four ways experts say you should prepare now.
Summer is traditionally home-buying season, but a Gallup poll released this past May found that 76% of Americans said it was a bad time to make a purchase. High mortgage interest rates and high home prices made the market unattractive for would-be owners. There's some good news on the horizon for those hoping to get a rung on the property ladder, though. Fall may bring more than just a dip in temperature.
Taking steps to become a better future customer can help you prepare for a rate drop in the coming months. 'Home buyers anticipating lower mortgage rates in the fall can use this time to strengthen their financial position,' recommended Douglas A. Boneparth, CFP Financial Advisor and President of Bone Fide Wealth, LLC. 'Focus on your credit score by paying down existing debts and ensuring all payments are made on time.
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