Learn why more buyers are getting pre-approved and many sellers are entering the market.

Have you ever considered how a slight tweak in interest rates can ignite a booming housing market? Mortgage rates have fallen to their lowest level in over two years, sparking a significant uptick in real estate activity. The Federal Reserve’s recent decision to reduce interest rates by 0.5% makes homeownership more accessible and leads to increased demand and faster sales. Here’s what you need to know: 

Mortgage rates hit a two-year low. This significant drop is already impacting the market in big ways. My phone blew up on Thursday after the rate cut was announced—the busiest it's been in a very long time.

Buyers and sellers are taking action. Buyers are eager to get pre-approved for these fantastic, low-interest rates. With rates this low, it's an excellent opportunity to secure a mortgage with more favorable terms. Sellers have also figured out that with more buyers entering the market, now is a better time to put their homes up for sale. There are a lot more home shoppers out there in today's market.

“My phone blew up after the rate cut—the busiest it's been in a very long time.”

We’re currently experiencing a significant housing market shift driven by historically low mortgage rates. This shift creates a golden opportunity for prospective buyers to secure affordable financing and for sellers to reach a more extensive, eager pool of buyers. Acting now can lead to substantial advantages and successful transactions. Buyers should consider getting pre-approved to save money in the long run. At the same time, sellers can achieve top dollar by effectively staging their homes.

At The Brad Korb Real Estate Group, we track these trends daily. If you have any questions about pre-approval, these fabulous interest rates, or how to get your home ready for sale, please don't hesitate to reach out. I'm here to answer any real estate questions you have. Thank you for reading, and have a wonderful day!