Great news for buyers!
Due to recent developments in the global marketplace, bond markets are rallying at a pace we haven’t seen during the past several years. In addition, the 10-year treasury yield was below 2 percent yesterday for the first time in more than two years. Together, these actions have led to a drop in mortgage rates. In fact, as of yesterday afternoon, many mortgage products were offering rates in the high 3 percent range.
Whether one is in the market to buy a home or not, everyone can benefit from lower mortgage rates. Homebuyers can purchase a home for less, sellers could see increased activity, and homeowners can refinance to lower their mortgage costs and free up money for other purposes.
Visit my website to view past Basking Ridge sales, to start your home search or request information on the value of your home in today’s market.
