Next week, the Federal Reserve meets on interest rates. The markets remain optimistic that there will be a cut by the Federal Open Market Committee. This optimism has begun to show as homebuyer demand has gone up in recent weeks. But prices also continue to rise which restrains homebuyers. However, we are also seeing additional homes for sale, as interest rates come down slowly. Today’s 30-year fixed rate is averaging 6.30%.
The picture above shows where interest rates have been since the 1980’s. When is it a good time to buy, you ask? The saying goes: “The best time to buy a house is right now, and 20 years ago! The picture here has the data to prove it.
