Mortgage Rates Dip, Bringing Treats for SF Homebuyers This Fall

Mortgage Rates Dip, Bringing Treats for SF Homebuyers This Fall

The leaves are turning and there's a chill in the air, but the real estate market in San Francisco is heating up this fall thanks to mortgage rates hitting a 2-year low. This welcome news has many potential homebuyers wondering if now is the time to make a move or if they should wait to see if rates drop even further.

Is It Worth Waiting for Even Lower Rates?

Some may be tempted to hold off in hopes that mortgage rates continue to fall. However, as a Yale finance professor points out, rates have already dropped significantly in anticipation of the Fed cutting rates. While additional rate cuts are expected, the impact on mortgages may be gradual and is not guaranteed.

Personal Circumstances Matter Most

Ultimately, the decision to buy now or wait depends on your unique situation. If you're ready to make a move, taking advantage of the current relatively low rates could be a smart choice. And if rates do drop further down the line, refinancing is always an option to consider.

Trading Up in a Down Market

Interestingly, trading up to a higher-priced home can often be more advantageous when the overall market is down. So for those looking to upgrade, current conditions may present a prime opportunity.

Navigating New Real Estate Rules

Another hot topic we're hearing a lot about is the recent changes to rules around homebuyers and agents stemming from the NAR settlement. Our websites have seen a surge in traffic to pages like our Sample Buyer/Seller Forms as people seek to understand the implications.

Transparency Is Key

At Vivre Real Estate, we've always believed in total transparency and serving as trusted advisors to our clients as they navigate major life decisions. So in many ways, the increased interest in these topics feels like a validation of our approach.

Spooky Season Surprise

In other news, just in time for Halloween, San Francisco's oldest house has found a surprising new owner! We can only imagine the haunted house potential…

As always, our team is here to help with any and all of your real estate needs. Don't hesitate to reach out with questions - we're happy to be a resource for you and anyone you know!

More Real Estate News and Insights

• The Fed Is Cutting Rates Soon. Should I Wait to Get a Loan? (Yale Insights)
• No, Wall Street Isn't The Boogeyman Gobbling Up All The Single Family Listing Inventory (Housing Notes)
• San Francisco's oldest house sells to surprising new owner (SFGATE)
• Calling all dancing queens: A new Marina bar takes you back to the '70s (The SF Standard)
• Hikers, rejoice: Tiburon nature reserve with sweeping SF views finally open (The SF Standard)
• When to book holiday travel this fall: 'That window of low prices is brief,' economist says (CNBC)