Mortgage rates continue to drift down as markets concur with the view that inflation increases are temporary. While mortgage rates are low, purchase demand has weakened over the last couple of months, primarily due to affordability constraints stemming from high home prices. With inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller's market.
It’s still a great time to leverage your buying power to purchase a new home. Not moving anytime soon? Check your current loan rate as it is still a great time to refinance.
Do you have other real estate questions? Please contact me at your earliest convenience. I’d be glad to assist you or someone you know!
Sal Soriano, REALTOR
972.281.7500
