As we head into December, interest rates are at a four-month low, with the bond market (which is the driving factor behind rates) dropping upwards of 50 basis points in recent weeks. In the first week of December, markets are pricing in a 68% chance of us seeing a 100 basis point (or 1%) cut in rates by the Fed over the course of 2024.
Fed Chair Powell continues to stress caution, reiterating his mantra that the Fed will not hesitate to raise rates again if warranted. It’s still very early to tell if this will come to fruition, but we’re moving in the right direction as we close out 2023; a welcome sign for buyers.
To get in touch, reach out to your Helen Adams Realty agent or contact Tom Baker directly.
About IntroLend Carolinas
IntroLend Carolinas is a mortgage marketplace that allows you to compare your options side-by-side, giving you the confidence to know you are receiving the best possible rate and terms. Helen Adams Realty has dedicated finance managers in their offices who have been in the mortgage and customer service industries for decades and understand how to take great care of any borrower in any scenario.