Happy Thursday – I hope you are doing well. Now that inflation is calming down, so are rates. Rates are at their lowest point since September, and we are seeing a lot more buyers enter the market. We are already seeing multiple offers and once we head into March, we expect to see more of that. I don’t think it will be anywhere near as bad as 2020 and 2021, but if you are able to start looking sooner, there should be less competition.
Rates are in the high 5’s to low 6’s and a lot of our clients are also taking advantage of the 2/1 buy down since sellers are more willing to pay closing cost again. I think 2023 is going to be a much better year for buyers to get into a reasonable rate and not have to overpay for the home. As always, thanks for your continued support and trust. Please call us if there is anything we can do to help.
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Stewart Sadler
Managing Partner
Cornerstone Mortgage Group
Georgia Residential Mortgage Licensee: 21412 • Company NMLS: 147913 • Individual NMLS: 147938
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