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You’ve probably noticed it, rates are up, down, and back again before you can even call your lender for the scoop! Just me? Ha. Man, who can keep up? We had a stable March, but April and May? TOTAL Bananas. And it’s enough to make even serious buyers pause. But here’s the deal, if you’re trying to “time” this market perfectly you may be here awhile. You can’t control the rates, but that doesn’t mean you’re powerless. Here’s what you can do to get the best rate possible right now! Boost Your Credit Score. Even a 20-point difference can impact your monthly payment. The better your score, the better your deal, period. (If you’re not sure where you stand, I know a great lender who can give you a game plan.) Pick the Right Loan Type. Not all loans are created equal. FHA, VA, USDA, conventional each come with different perks. And the rates can vary a lot depending on what’s best for your financial picture as a whole. Be Strategic About Your Loan Term. Going with a 15-year vs. a 30-year loan might shift your rate and payment big time. Your lender should walk you through all the options, not just push one product. Let me know if you’d like someone to lay it out for you. I always say this… focus on what you can control, and build your home buying strategy around that. And while mortgage rates are super moody, the market itself is still moving! Here’s what’s happening right here in our backyard, according to the North Texas Real Estate Information Service:
Thinking about buying, selling, or just want to know where you stand? Let’s grab a coffee or an iced bevy. It’s summer after all!!! I’ll help you create a plan that works for your timeline and your goals, no pressure. We’ve got this. *All stats taken from North Texas Real Estate Information Systems.
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