By Johnny MendezReal estate is one of the most interest rate sensitive industries out there. Mortgage rates directly impact affordability and they can change from one day to the next, almost like a stock price.
Many expect rates to trend downward this year , so it is helpful to know where they stand at any given moment and how to track them.
That said, just as I do not recommend trying to time ANY market , I also would not delay homeownership if you are ready simply to chase a slightly lower rate. Still, having visibility into what is happening can be useful.
Because I live and breathe real estate, I regularly use a website called Optimal Blue , which I was introduced to by one of my preferred lenders, Spencer Lin. The scrolling banner at the top provides a quick snapshot of current rate trends. If you are comparing lenders or thinking about buying a home anytime soon, I hope this is a helpful resource.
I am always happy to share my knowledge and resources. If I can help in any way, just let me know.