Brief Market Update

Mortgage rates decreased again last week. This reduction in mortgage rates is good news for buyers. Although fall and winter tend to be slower months for home buying, there may be an advantage to braving the snow and busy holiday season to get out there and look for a home. As rates gradually decline as anticipated, now could be a less crazed time to buy a home before buyers flood the market in the spring. With the recent decrease in rates, we’re already seeing strong demand as evidenced by 9 offers on a Wellesley property listed last week.