Lower Rates Make a Big Difference.
As we kick off 2024, Mortgage News Daily is reporting average 30-year rates have dropped to 6.75%. That is 1.25% lower than mid-November.
Every 1% drop in rates means that your principal and interest payment remains the same for a 10% higher loan amount.
Today's buyers can save money on monthly payments or qualify for a larger mortgage.
Lower rates translate into more opportunities for winter buyers.
Happy House Hunting!
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