Mortgage Rates Decline For 5th Consecutive Week!

By
Real Estate Agent with HomeSmart Real Estate BR632450000

Should you buy a home now or try and time the market and buy later if mortgage rates come down further? This is always a difficult decision especially when life is drawing you to buy a home. (Image: Freddie Mac Mortgage Rate Weekly Survey)

There may be a window of opportunity to own a home in the Phoenix Arizona metro now with home prices having declined somewhat while mortgage rates are inching down for the 5th consecutive week to 7.22% (good credit). Remember, you can marry the home of your dreams but only have to date the mortgage rate. One can date the rate by refinancing later when rates decrease. Over the past 100+ years home prices have gone up and down through the decades but the overall trend is up....WAY UP! As your parents likely did, YOUR home will increase in value as you also build equity. Renting? There is no equity accumulation.

Mortgage Rates Drop for the Fifth Consecutive Week
November 30, 2023 Freddie Mac Weekly Survey...

"Market sentiment has significantly shifted over the last month (declined 5 consecutive weeks ending November 30, 2023), leading to a continued decline in mortgage rates. The current trajectory of rates (dropping to 7.22% with good credit) is an encouraging development for potential homebuyers, with purchase application activity recently rising to the same level as mid-September when rates were similar to today’s levels. The modest uptick in demand over the last month signals that there will likely be more competition in a market that remains starved for inventory."

Mortgage Rate Survey December 2023

For more information on Arizona Mortgage Loans and Lenders: https://arizonahomesland.com/mortgage-loans/

Buy a home in Phoenix, Scottsdale or elsewhere in Arizona.

Here is a FREE MLS Search for homes for sale in Arizona. Jeff Masich would be pleased to help you find Arizona Homes For Sale and the right home at the right price! Call or text, Jeff Masich, REALTOR® at 480-242-6500 and ask for lender referrals.

Free MLS Search Arizona

Press FREE MLS Search to search for Arizona Homes and Land  or https://ArizonaHomesLand.com/

Posted by

Jeff Masich

Broker/REALTOR®

Scottsdale including Phoenix, Tucson and Prescott metros and throughout Arizona


Buy/Sell with Arizona Homes and Land Group. Ask me, Group Leader about Metro Homes or Ranches and Large Acreage properties throughout the state.

My BlogAbout Me


Web: Arizona Homes and Land

 Jeff Masich Arizona Homes and Land Group HomeSmart

 

 

 

 

480-242-6500
CALL or TEXT

Email Me

 

HomeSmart Jeff Masich

 

Comments (8)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

My advice would be buy now I do not trust the Fed or the Fed Chairman...Endre

Dec 02, 2023 02:47 PM
John Pusa
Glendale, CA

Hello Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI this is very good news that mortgage rates decline for 5th consecutive week. 

Dec 02, 2023 03:12 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Like Endre Barath, Jr. I do not trust the Fed. And I am a believer that you can't participate in the effects of inflation on appreciation if you don't have skin in the game. Buy now! Enjoy your day.

Dec 03, 2023 06:09 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jeff and so glad that they are dropping slowly and hope buyers get off the fence now.

Dec 03, 2023 09:42 AM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Hi Skipper Endre Barath, Jr. well if you don't trust the Chairman, lets lower the mortgage rate periscopes and give the order to DIVE DIVE DIVE! Jeff

Dec 03, 2023 07:32 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Yes 5 Straight weeks John Pusa and we should ask "HOW LOW WILL THY GO!" Jeff

Dec 03, 2023 07:34 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Buy while the going is good Wayne Martin keeping the money in the bank is not going to get the appreciation in real estate and you have to live in a home somewhere anyway. I am with you Buy now and build equity. Jeff

Dec 03, 2023 07:35 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

For sure Will Hamm one can get their pants caught sitting on the fence. You can get caught going nowhere. Buy now and build equity. Jeff (photo: Mabe Amber, Pixabay)

Sitting on the fence

Dec 03, 2023 07:39 PM