The fall of 2024 could bring us the mortgage rate changes we have been waiting for!

The last two years have been a challenge to navigate. Higher rates have made mortgages unaffordable for many potential home buyers. The “once in a lifetime” low mortgage rates during the pandemic have created a “lock-in” effect; with potential home sellers waiting to list their homes until rates come down. Recent economic news has most market watchers anticipating Federal Reserve rate cuts starting in September. This could help potential buyers with lower monthly payments which will bring many into the real estate market looking for a home.

Having a mortgage strategy is as important as ever! Lower mortgage rates may result in multiple offers on homes for sale. If you find yourself in the home market next year, be sure to work with a team that has a playbook of strategies to help you win!

Mortgage Tip provided by Ben Burkett with NFM Lending, 804-833-4303 or This email address is being protected from spambots. You need JavaScript enabled to view it.