Trying to figure out what most people are doing right now.
With interest rates where they are, a lot of deals don’t look as attractive as they used to.
Are buyers mostly sitting on the sidelines, or still moving forward and adjusting expectations?
Curious what you’re seeing in your area.
Are people actually waiting for rates to drop, or still buying?
byu/Cjd03032001 inRealEstate
Posted by Cjd03032001
15 Comments
I have one float-down before the 19th. I’m already locked at 6.25. Hoping to hit 6.125.
North East things are still selling mostly over asking.
Sitting, or let’s call it stuck on sidelines. I’m finding in PNW most houses are very overvalued at the current time, they are dropping slightly but most are still holding due to the season ( spring is selling time) .
Locked in va loan at 5.625%. June 1 close
I’m not buying shit at these prices.
We listed today. 7 viewings and 1 full price offer (expires tomorrow) and we’d already had 6 more viewings scheduled for tomorrow.
If someone was actually in a position to know when rates would drop, they could day trade stocks tied to mortgages (stock ticker MBB, for example), and then they wouldn’t need a mortgage at all. So, while they might tell themselves they are “waiting for rates to drop,” really they are waiting for their personal financial situation and emotions to align… and the economy kind of sucks, so here we are.
I just got my keys today, interest was high but we could afford what we got. The process was surprisingly painless for us. Offer was immediately accepted, they gave us concessions and they happily repaired everything we asked during inspection. We couldnt be happier
Waiting is just foolish at this point
Buying I suspect if rates drop, house price will increase with more competition
I’m waiting for prices to drop
Oh they’re still buying… check out r/FirstTimeHomeBuyer
We went in at 6% and just unpacked the last box. Were pretty happy with it.
I would love to buy a house, just waiting for the right one to hit the market. Cash buyer though so the rates are of little impact in my situation.
I think anyone who is waiting for something outside of their control to happen instead of simply continuing on with their life regardless is making a mistake.