With inflation down to 2.9% in July, most analysts are hopeful that the Federal Reserve will make rate cuts at their September meeting and maybe follow it up with another rate decrease before the end of the year.
If this happens, is it time to consider selling?
While many would-be sellers have been reluctant to put their house on the market because they didn’t want to from a 4% mortgage rate to 7.5%, a 1 to 1.5% increase is certainly more palatable. Likewise, buyers that didn’t qualify at 7.5% have a much better chance at 6%.
Experts agree that home prices will remain high in all likelihood with multiple offers a real possibility.