If you are in the market for a new home in the Orlando area or considering refinancing, what does the future hold for mortgage rates?
Experts agree, after the historic highs of the previous year, mortgage rates are expected to significantly decrease in 2023. For both potential home buyers and homeowners, this is welcome news.
What does this mean for new homebuyers and current homeowners?
A decrease in mortgage rates means significant savings for those looking to refinance or buy a home.
Lower mortgage rates makes it easier to afford a home and a lower monthly payments.
The lower interest rates also make it a good time to refinance.
Which will also lower your monthly payments. Potentially it can mean you pay off your mortgage quicker and shorten the loan terms.
How you can take advantage of the reduced mortgage rates?
Start early, getting everything in order for a lower mortgage rate. This means contacting a professional mortgage broker to get the best interest rate for your situation.
Getting pre-approved for a home loan will give you a good understanding of how much of a house you can afford and make better informed decisions when making an offer.
The team at Palm State Mortgage, will find the best mortgage rate available and help you navigate the current market. Making informed decisions and understanding the home buying process is vital when purchasing or refinancing a home.
The bottom line
The interest rates for home mortgages are expected to decrease in 2023, don’t miss out on this opportunity. Whether you are a seasoned homeowner or a first time home buyer, Palm State Mortgage will help you make the best decisions possible to help you become a homeowner.
We have an in-depth understanding of the area real estate market. Not just about the home values, but also the market trends and your unique situation. With larger companies, once they hook you in, you can get passed on to someone half way across the country to work with you on your application.
