April Real Estate News - Mortgage Rates Hit Lowest Point So Far This Year

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  If you’ve been holding off on buying a home because of high mortgage rates, you might want to take another look at the market. That’s because mortgage rates have been trending down lately – and that gives you a chance to jump back in. Mortgage rates have been declining for seven straight weeks now, according to  data  from  Freddie Mac . And the average weekly rate is now at the lowest level so far this year ( see graph below ): While that may not sound like a significant shift, it is noteworthy. Because the meaningful drop from over 7% to the mid-6’s can change your mindset when it comes to buying a home. Especially when the  forecasts  said we wouldn’t hit this  number  until roughly  Q3  of this year ( see graph below ): Why Are Rates Coming Down? According to Joel Kan, VP and Deputy Chief Economist at the  Mortgage Bankers Association  (MBA), recent economic uncertainty is playing a role in pushing rates lower: "Mortgage ...
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A Record Percent of Buyers Are Planning To Move in 2025 – Are You?

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This could be the year to sell your house – and here’s why. According to a recent NerdWallet survey, 15% of people are planning to buy a home this year. That’s actually a record high for this survey (see graph below):

a graph of blue rectangles with white textHere's why this is such a big deal. The percentage has been hovering between 9-11% since 2020. This recent increase shows buyer demand hasn’t disappeared – if anything, it indicates there’s pent-up demand ready to come back to the market.

That doesn’t mean the floodgates are opening and that there’s going to be a huge wave of buyers like we saw a few years ago. But this does signal there’ll be more activity this year than last.

At least some of the buyers who put their plans on hold over the past few years will jump back in. Whether they’re feeling more confident about moving, they’ve finally saved up enough to buy, or they simply can’t wait any longer – this is the year they’re aiming to take the plunge.

And, according to that same NerdWallet survey, more than half (54%) of those potential buyers have already started looking at homes online.

That’s a good indicator that a number of these buyers will be looking during the peak homebuying season this spring. So, if you find the right agent to make sure your house is prepped, priced, and marketed well, you can get your house in front of them.

Bottom Line

More people are going to move this year, and with the right strategy, you can make sure your house is one of the first they look at.

What do you think these buyers will love most about your house?

Let’s talk it over and make sure it’s front and center in your listing.

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