What are we projecting? I had the privilege of sitting down with Debbie Cowan, Branch Manager with Prime Lending here in Ocala. So what Debbie is telling me about where we will be next year is that all projections so far show we may see lower rates again faster than what was projected last quarter.
We could be in the mid 5’s again by the end of first quarter 2023. The Feds are still talking about raising rates in December, but instead of the original thought of 75 basis points, we are hearing just 50 basis points, which is a win for everyone… It is apparent the economy may be peaking. The great news is, we are seeing a good amount of inventory which is amazing from where we were 6 months ago, and she has a plethora of products available to assist all buyers with financing options, and she also offers a rate redo so when rates come down, which they most likely will, you can refinance with no lender fees.
Buyers, for the time in 2 years, YOU are in the driver’s seat so take advantage, and remember, marry the house not the rate.
I look forward to hearing from you and if you would like to have a conversation with Debbie Cowan, call her at 352 433-7846. You won’t be disappointed and please tell her I sent you!
Valerie Ostrom, REALTOR®, SRES
Fontana Realty – West
7668 SW 60th Avenue, Suite 200
Ocala, FL 34476
352-875-8818 Call Or Text