Mortgage Blog

After comparing the current mortgage interest rate with the lows we saw in February, it 
appears that rates are still slightly higher. While we anticipate that rates may decrease 
if the Federal Reserve lowers them in the second half of the year, it's possible that any 
trend towards lower rates could be gradual.

I wanted to update you on some pre-approvals I've prepared for my clients. Although listing 
prices have dipped slightly recently, we're still seeing multiple offers and even some cash 
offers for particularly attractive properties. In one recent case, the cash offer was even 
15k higher than the listing price.

Some of my clients have been curious about why we're not seeing more significant decreases 
in house prices. The main factor is likely the strong job market, which has prevented 
foreclosures from flooding the market. It remains to be seen what will happen towards the 
end of this year or next year, when the economy may enter a recession.