Fall Into Your New Home

It's supposed to be Fall, Y'all. Does it feel like Fall yet? Mildly. We are getting many questions surrounding interest rates and availability of homes in Houston. Currently, we still have a shortage of available homes in qualifying conditions for buyers to see and purchase. Interest rates? Yes, they are higher than they were in the COVID-buying-frenzy of 2020-2022. Should you buy now? Sure. If you can locate a viable home, in the right location, with the right features, and at the right price...absolutely. No reason not to. Interest rates fluctuate as you will see if you look up any trends/they change throughout the day. Most mortgage companies are offering no-fee/"free" (nothing in life is free) refinances within the next 3-5 years after your purchase. That often means they are waiving all lender fees and the appraisal fee. 

Higher interest rates change affordability for the American people. Understand though, that we are coming from an artificially reduced financial market; some would say purposefully reduced. Take it how it resonates for you. Buying a home with a higher interest rate doesn't make you any less savvy financially than when they were lower. Home prices are adjusting based on condition, location, and availability in the market. Recognize that with an overall lack of inventory, prices are reducing, but are also holding steady due to that lack of availability overall. 

If you have any questions about your situation specifically, let's talk! Enjoy the Fall weather when it arrives. Take great care of yourself!