Happy Thursday – I hope everyone is doing well. For this week’s video I want to discuss our current market. Interest rates have calmed down and sellers are willing to negotiate on home prices. This is great news for buyers, but my concern is still inventory. I think once we head into the spring market, it could shift back in the seller’s favor. I don’t think it will be as bad as 2020 and 2021 but do think now is a great time to buy if you can.
On the interest rate front, I am optimistic rates will continue to stabilize and hopefully come down. The fed has already mentioned they will do a smaller rate hike next time and inflation seems to be cooling off. All eyes are on the CPI data that comes out on December 13th. If inflation is down again like last month it will be good for rates, so we are really hoping that is the case.
As always, thanks for your continued support, trust, and referrals. Please call us if there is anything we can do to help.
Cornerstone Mortgage Group
Georgia Residential Mortgage Licensee: 21412 • Company NMLS: 147913 • Individual NMLS: 147938