Mortgage rates have fallen, making homes more affordable to millions of buyers. So should you buy a home now, or hold out for even lower rates?
Finally, there is good news for hopeful homebuyers. The Federal Reserve is expected to begin lowering interest rates in September, which means mortgage lenders will lower rates as well.But mortgage rates are already trending down, and are expected to continue dropping through the rest of this year. It presents a dilemma for buyers, however, having to decide whether to wait for those lower rates, which could mean losing the home of your dreams.Shawna Green is not waiting.
So do you jump in now, or continue to wait for lower rates? Holden Lewis of NerdWallet does not suggest trying to time the market for the lowest rate possible.'What that boils down to is,' he said, 'if you're shopping for a house and you find a suitable house and you can afford it at today's interest rates, you should just probably buy it.
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