If you’ve been sitting on the sidelines waiting for the “perfect time” to buy a home, this might be the sign you’ve been looking for.
Mortgage applications just jumped 20% in a single week, according to the latest CNBC report, mostly due to falling interest rates.
What does that mean for today’s buyer? It means the window of opportunity is open—but it probably won’t stay open forever.
Mortgage demand is surging as rates drop. Don’t wait—now’s the time to apply and lock in your opportunity before competition heats up.
What’s Happening in the Market
After months of higher rates, interest rates have dropped, and homebuyers are wasting no time. More buyers are getting pre-approved, locking in rates, and hitting the market before competition picks up even more.
We’re already seeing the shift. The number of mortgage applications surged, and with spring homebuying season just around the corner, this is just the beginning.
When demand for homes pick up, so will the price of buying that home. You can find out more on that here…
Why Do a Mortgage Application Now?
Here’s what’s happening in the marketplace today:
- Rates dropped – and we don’t know how long they’ll stay this on this downward trend.
- Competition is rising – as more buyers jump back into the market, the best homes will go fast…and the rest will become more expensive.
- Waiting could cost you – not just in rate increases, but also in bidding wars as demand grows.
What This Means for Would-Be Buyers
If you’re serious about buying this year, you have a couple of choices:
- Take advantage of today’s rates and get pre-approved before the rush.
- Wait, hope rates stay low, and risk higher prices and more competition.
The Bottom Line
There’s a lot in this housing and mortgage market you can’t control. But getting ahead of rising competition and securing a better rate is something buyers can do right now!
If you’ve been thinking about buying, do reach out to me here.
We can take a look at your options, answer any questions, and help you get prepared to take full advantage of this moment.
The blog postings on this site represent the positions, strategies or opinions of the author and do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deductions.
