Exciting news for homebuyers: mortgage rates have dropped to their lowest point in over a year and a half! If you've been holding back on buying your dream home, now is the time to make a move!
Why This Matters
Even a slight decrease in mortgage rates can have a significant impact on your monthly payments. This could mean a more favorable deal on your dream home or even open doors to higher-priced properties that were previously out of reach.
According to Sam Khater, Chief Economist at Freddie Mac, “Mortgage rates have fallen more than half a percent and are at their lowest level since February 2023.”
Let’s break down what this means for your finances:
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Yes, you read that right—with the current mortgage rate dropping to 6.12%, you could save over $370 each month! Imagine saving more than $134,000 over the life of your loan!
But should you wait for rates to drop further?
According to Zillow Senior Economist Orphe Divounguy, “For those who are ready to buy now, waiting for larger declines in mortgage rates carries some risk. Absent an unexpected deterioration in the labor market, it’s unlikely mortgage rates would decline all that much more.” In other words, if you're ready to buy, this could be your best moment!
Builder Credits = Even More Savings!
Ready for more good news? The path to homeownership becomes a lot easier to navigate when you add a builder credit to possibly buy your rate down further!
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Unlock Trusted Lender Incentives
Working with our trusted lenders not only means great rates, but you’ll also become eligible for additional builder bonuses and included closing costs! Reach out to one of our lenders today to explore all the savings opportunities available to you:
Bottom Line
With mortgage rates at their lowest since early 2023, your purchasing power is stronger than ever. If you've been waiting for the right time to buy, this could be it.
Ready to find your dream home? Check out The Preserve, our newest Rush Lifestyles community, featuring exceptional move-in ready homes and lots available now.
Don’t wait—reach out today and discover how you can take advantage of these incredible savings!