Some Highlights

• Mortgage rates are on the decline, which is great news for your purchasing power.

• As rates drop, your monthly mortgage payment decreases, potentially allowing you to afford more home or save on costs.

• If you put your home search on hold when rates were higher, it might be worth exploring how today’s lower rates could benefit you now.

Falling mortgage rates are giving homebuyers a renewed opportunity to make the most of their budget. Even a small dip in rates can significantly impact your purchasing power, translating to lower monthly payments and the potential to buy a home you may not have considered just months ago. For anyone who pressed pause on their home search due to higher rates, this is the perfect time to reevaluate what you can afford and the potential savings available.