Fannie Mae predicts more Competition! #homeloans #realestate #mortgage #interestrates

Waiting for rates to drop for purchasing your new home? If so, you are not alone. The Fannie Mae homebuyer sentiment report came out today, and the results were stronger than they've been in two years. And rates have only begun to drop. So as rates continue to drop, we'll keep seeing buyer activity, pick up coaches and money that helped over a thousand families navigate the COVID housing market. We saw rates go from 4% to 2 to 30s. It's going to be a similar drop from 7, 8% down to the fives. The buying frenzy will pick right back up. And that's why Fannie Mae predicts 20% more competition at 2024 compared to last year's. So if you wait for rates, you're going to be facing a higher price on the home before more people find out it's a great time to buy. The best window of opportunity is right in front of us.