As we near the end of 2024, home sellers and buyers face a unique housing market climate shaped by higher interest rates and steady homebuyer demand. Typically, 30% of all home purchases are cash. However, current 30-yr mortgage rates range from high 5% to mid-6% interest rates depending on loan type & your credit health. Government loans (FHA, VA & USDA, etc.) are about ½ percent better than Conventional loans. 

For sellers now is one of the best times to sell partially because of the historically high housing prices and continued buyer demand.

While there is not a direct correlation between the Fed’s rate cuts and mortgage rates, it can have an indirect trailing effect on mortgage rates. Please keep in mind that our current rates are a result of “the market” anticipating the Fed’s last rate cut. So, the best guess is that interest rates will remain where there or edge up slightly between now and the first quarter of 2025.

At Charis Real Estate Group, our professional and highly trained agents understand not only the current real estate market conditions, but also how to successfully navigate you and your family through these challenging times while reaching your real estate goals. Reach out today and let us help you and your family make not just your next move, but the “right move”.