Mortgage rates have just dropped to their lowest point in over a year and a half! If you’ve been holding off on buying a home in, this could be the moment you’ve been waiting for. The Louisville real estate market has many great opportunities awaiting you!
Even a small dip in rates can make a big difference to your monthly payment. And the recent drop isn’t small. Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.
Let’s break it down. Here’s how these lower rates could impact your monthly payment:
If you were looking at buying a $400K home back in April when rates were at their highest this year, your monthly payment (principal and interest) would have been a lot higher than if you bought today. Going from 7.5% to the low sixes means saving over $370 per month on a $400K loan. That’s some serious savings!
What This Means for Buyers
If you’ve been on the fence about buying a home, this rate drop means your buying power has increased. Simply put, you can now afford more home for the same monthly payment, or you can secure a lower payment on the home you already had in mind. It’s a win-win!
But don’t just take our word for it—get in touch with Fry Realty Collective today. Our team can help you understand exactly how much this rate change can benefit you. Whether you’re a first-time buyer or looking to upgrade, we’re here to guide you through every step of the home-buying process.
What This Means for Sellers
Sellers, this rate drop is good news for you too. Lower rates mean more potential buyers in the market, and more buyers can translate into a quicker sale at a higher price. Buyers who might have been priced out of your home a few months ago may now find it well within their budget.
If you’re thinking about selling, now is the time to list with Fry Realty Collective. Our team specializes in crafting marketing strategies that maximize your home’s visibility and attract serious buyers, even in fluctuating markets. We’ll price your property right and market it aggressively to ensure it stands out.
The Fry Realty Collective Difference
We know how to make these market conditions work for you. Whether you’re buying your first home, selling your current one, or both, Fry Realty Collective is ready to help you navigate these shifting tides. Our team is committed to offering personalized service, up-to-date market insights, and strategies tailored to your unique needs.
Don’t wait until these rates start creeping back up—mortgage rates have dropped so reach out to us today. We’ll help you understand your options, develop a game plan, and make your next real estate move with confidence.
Ready to Get Started?
Get in touch with Fry Realty Collective now to take advantage of this rare opportunity. Whether you’re buying, selling, or just curious about what your home might be worth in today’s market, we’re here to help.
Contact us at 502-817-9425 or bethgeiser@gmail.com to schedule a consultation. Let’s make the most of this moment together!
Bottom Line
Mortgage rates have dropped to their lowest in almost two years, the time to act is now. Contact Fry Realty Collective to see how you can leverage these favorable conditions to achieve your real estate goals. Don’t miss out on this opportunity to buy or sell your home under some of the best market conditions we’ve seen in recent times!