The months of December and January have been slow in the Cleveland, McClain and Garvin Counties market area. But this past week has been incredibly busy. I have had several buyer calls this past 7 days.
Things are picking up. The rates have not been lowered this fast since 1984. So, the normal spring flurry will most likely be earlier, rather than later. Later this week, the Feds may reduce rates even further.
Fears of a recession have spurred these multiple rate reductions. Besides customers looking at home purchases, many are also looking at home refinancing options. Historically, lenders have said that if you can reduce your home interest rate by at least 2 percent, then refinancing makes financial sense. There is no better time than the next 60 days.