The Sweet Spot for Buyers This Fall | Top Slide of the Week | #kcmdeepdive
#Business
"A lot of homebuyers are stuck in the decision of whether to buy now or wait – and many may choose to hold off until 2025 to see what the new year brings.
But you can help them realize they don’t have to wait because this fall may be a sweet spot. And this Deep Dive will give you the information you need to show them why.
Watch this Deep Dive to get the expert visuals to get your buyers off the fence and back into the market."
You can see that in October of last year,
when mortgage rates were up at their absolute peak,
Mortgage News Daily had 8.03% on October 19th of last year.
On a $400,000 loan,
the monthly payment for principal and interest
was about $2,900, almost $3,000 a month.
Now, fast forward to where we are right now,
even with where mortgage rates ticked up
to about 6.5 last Friday,
that same loan amount, $400,000,
there's a savings, a monthly savings of over $400 a month.
So if someone paused their plans last fall
because they were like, this is just too much,
I need to wait,
the math is starting to shake out
as a savings one year later.
And being able to do this with your clients,
share with them where we were a year ago,
where we are now,
let's start talking about what number makes sense for you
and what you are looking for,
then they can be ready and informed
when they're ready to buy.
And right now we can see that that number has gone down
by about $400 per month since October of last year.
So affordability is improving.
If that's been something
that's been keeping your clients on the sidelines,
really important to be able to have these conversations
right now.
Thanks so much for checking out the KCM Deep Dive.
To access the full version
and to share all the professional visuals included with it,
you'll wanna go to trykcm.com
if you're not already a KCM member.
From there, you can start a free 14-day trial
of the KCM membership,
so you can always confidently answer the question,
how's the market?