Mortgage rates just climbed back above where they were last year.
Oil hit $85 a barrel on August 17. That's a 25 percent jump since July 6. The Iran war and shipping uncertainty
Mortgage rates are now sitting at 6.75 percent. That's three fourths of a point above where they were before the war started. Higher rates usually kill buyer demand. But here's what's happening instead. Active listings are only up 2 percent year over year.
Late summer is historically one of the best times to buy. Inventory is high but competition is low. Once spring hits, buyers flood back in and you're competing against 10 other offers again. Right now you've got options and negotiating power.
My take? If you've been waiting for the perfect moment, this might be it. Rates aren't dropping anytime soon with inflation still running hot. But inventory is sitting there and sellers are actually willing to talk.
DM me directly and I'll send you the full breakdown of what's available in your price range right now.
