(WFSB) – If you’re looking to buy a home, this spring may be a good time to do it. Interest rates are expected to fall over the next couple of years, but that doesn’t necessarily mean you want to wait.
Interest rates to buy a home are still just under 7%. Experts believe that number will keep going down for a while.
“The expectation is that we’re going to see year over year rate decreases, so for the remainder of ‘24, next year in ‘25 and then also in ‘26, the expectation is that they’ll be successive rate cuts year over year,” said David Adamo, Luxury Mortgage CEO.
Adamo explains that interest rates and home prices tend to work like a seesaw. As interest rates fall, more people enter the home buying market causing the price of homes to go up.
Now may be a good time to buy before …