NH realtors predict a boost in housing market if Fed cuts interest rates

Published: Aug 24, 2024 Duration: 00:01:31 Category: News & Politics

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POTENTIAL HOME BUYERS AND SELLERS. THE FEDERAL RESERVE INDICATES IT MAY SOON CUT INTEREST RATES FOR THE FIRST TIME IN FOUR YEARS. EXPERTS SAY THIS COULD HELP EVEN OUT A TUMULTUOUS REAL ESTATE MARKET. IT'S BEEN A ROCKY FEW YEARS FOR THE REAL ESTATE MARKET, WITH INTEREST RATES REACHING A 23 YEAR HIGH. REALTORS SAY FEWER PEOPLE WANTED TO ENTER THE HOUSING MARKET. BUYERS ARE BURNT OUT AND BUYERS WITH THESE LOWER INTEREST RATES, I THINK, ARE GOING TO START TO SAY, YOU KNOW WHAT? I'M GOING TO GIVE IT A GO AGAIN. REALTOR BARRY WARHOLA SAYS WITH MORE PEOPLE ACTIVELY LOOKING TO MOVE, THERE ARE ALSO MORE HOMES ON THE MARKET. THE PAST. 30 TO 90 DAYS, WE'VE SEEN AN INCREASE IN INVENTORY, BUT THE RATE IS STILL HIGH. WARHOLA SAYS MORTGAGE RATES ARE HOVERING AT AROUND 6%, BUT THEY ARE DECREASING SLOWLY. IT'S ACTUALLY SLOWER THAN WE DID PREDICT. MOST OF US HAVE BEEN PREDICTING THAT THE INTEREST RATES WERE GOING TO BE IN THE MID FIVES EARLIER THIS YEAR. THESE MIGHT NOT BE THE LOW RATES BUYERS ARE HOPING FOR, BUT WARHOLA SAYS THAT COULD MEAN MORE LONG TERM STABILITY IN THE MARKET. I DON'T FORESEE THE PRICES GOING UP BECAUSE OF THESE RATES AREN'T GOING SO LOW THAT IT'S GOING TO CAUSE PEOPLE TO WANT TO GO GO CRAZY WITH THEIR WITH THEIR OFFERS. SO IF YOU ARE THINKING ABOUT BUYING WARHOLA SAYS NOW IS A GOOD TIME. IF YOU CAN SWING IT, IF YOU CAN AFFORD TO BUY, BUY IF YOU CAN'T, WAIT UNTIL MAYBE RATES COME DO

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