Biggest news in Jim's Mortgage Matters is the expectation is that interest rates won't reach 5% anytime soon on 30 year fixed mortgage money...or as noted " . It is really unknown when that well occur.
Another takeaway is that housing activity has slowed. In Hampton Roads, it is not really very true but evidently the higher rates has impacted the trends nationally.
Yet with a confidence that rates won't move much higher, buyers can feel very good that they still can get some great cheap loans for now.
Now is not the time to wait!!!