[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1uvo0c63j3vqp":3,"$ffeh0925h8cuz":46,"$fbwk2pqjjqsc7":50},{"item":4,"previous":34,"next":40},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":32,"updatedAt":33},4513,"think-twice-before-waiting-for-3-mortgage-rates","Think Twice Before Waiting for 3% Mortgage Rates","Last year, the \u003Cem>Federal Reserve\u003C\u002Fem> took action to try to bring down inflation. In response to those efforts, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F12\u002F21\u002Fwhat-to-expect-from-the-housing-market-in-2023\u002F\">mortgage rates\u003C\u002Fa> jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\">last October\u003C\u002Fa>. Hopeful \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2023\u002F01\u002F04\u002Favoid-the-rental-trap-in-2023\u002F\">buyers\u003C\u002Fa> experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2023\u002F01\u002F12145335\u002Fthink-twice-about-waiting-for-3-percent-mortgage-rates-KCM.jpg","\u003Cp>Last year, the \u003Cem>Federal Reserve\u003C\u002Fem> took action to try to bring down inflation. In response to those efforts, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F12\u002F21\u002Fwhat-to-expect-from-the-housing-market-in-2023\u002F\">mortgage rates\u003C\u002Fa> jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\">last October\u003C\u002Fa>. Hopeful \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2023\u002F01\u002F04\u002Favoid-the-rental-trap-in-2023\u002F\">buyers\u003C\u002Fa> experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.\u003C!--more-->\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at \u003Cem>Freddie Mac\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Ffreddiemac.gcs-web.com\u002Fnews-releases\u002Fnews-release-details\u002Fmortgage-rates-inch-3\">shares\u003C\u002Fa>:\u003C\u002Fp>\u003Cp>\u003Cblockquote>\u003Cem>“While mortgage market activity has significantly shrunk over the last year, \u003Cstrong>inflationary pressures are easing and should lead to lower mortgage rates in 2023\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003C\u002Fp>\u003Cp>That’s potentially great news if you’re a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2023\u002F01\u002F02\u002Fwhat-are-your-goals-in-the-housing-market-this-year\u002F\">buyer\u003C\u002Fa> aiming to jump back into the housing market. Any drop in mortgage rates helps boost your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F12\u002F19\u002Fmortgage-rates-are-dropping-what-does-that-mean-for-you\u002F\">purchasing power\u003C\u002Fa> by bringing down your expected monthly mortgage payment. This means the lower mortgage rates \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2023\u002F01\u002F09\u002Fwhat-experts-are-saying-about-the-2023-housing-market\u002F\">experts\u003C\u002Fa> forecast \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F12\u002F16\u002F2023-housing-market-forecast-infographic\u002F\">this year\u003C\u002Fa> could be just what you need to reignite your homebuying goals.\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>While this opens up a window of opportunity for you, remember: you shouldn’t expect rates to drop back down to record lows like we saw in 2021. Experts agree that’s not the range buyers should bank on. Greg McBride, Chief Financial Analyst at \u003Cem>Bankrate\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fwww.bankrate.com\u002Fmortgages\u002Fmortgage-rate-forecast\u002F#forecast\">explains\u003C\u002Fa>:\u003C\u002Fp>\u003Cp>\u003Cblockquote>\u003Cem>“I think we could be surprised at how much mortgage rates pull back this year. But \u003Cstrong>we’re not going back to 3 percent anytime soon, because inflation is not going back to 2 percent anytime soon.\u003C\u002Fstrong>”\u003C\u002Fem>\u003C\u002Fblockquote>\u003C\u002Fp>\u003Cp>It’s important to have a realistic vision for what you can expect this year, and that’s where the advice of expert \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F12\u002F27\u002Fconfused-about-whats-going-on-in-the-housing-market-lean-on-a-professional\u002F\">real estate \u003C\u002Fa>advisors is critical. You may be surprised by the impact even a mild drop in mortgage rates has on your budget. If you’re ready to \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2023\u002F01\u002F03\u002Fwondering-how-much-you-need-to-save-for-a-down-payment\u002F\">buy a home\u003C\u002Fa> now, today’s market presents the opportunity to get a more affordable mortgage rate, find your dream home, and face \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F12\u002F14\u002Fyou-may-have-more-negotiation-power-when-you-buy-a-home-today\u002F\">less competition\u003C\u002Fa> from other buyers.\u003C\u002Fp>\u003Cp>\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\u003C\u002Fp>\u003Cp>The recent pullback in mortgage rates is great news – but if you’re ready to buy now, holding out for 3% is a mistake. Work with a local lender to learn how today’s rates impact your goals, and let’s connect to explore your options in our area.\u003C\u002Fp>","\r\nThe recent pullback in mortgage rates is great news – but if you’re ready to buy now, holding out for 3% is a mistake. Work with a local lender to learn how today’s rates impact your goals, and let’s connect to explore your options in our area.",false,[16,20,24,28],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},11,"First-Time Buyers","first-time-buyers",{"id":25,"name":26,"slug":27},35,"Mortgage Rates","mortgage-rates",{"id":29,"name":30,"slug":31},38,"Move-Up","move-up","2023-01-17T11:00:17Z","2023-02-03T15:33:29Z",{"id":35,"slug":36,"title":37,"featuredImage":38,"publishedAt":39,"contentType":10,"isVideo":14},4509,"what-past-recessions-tell-us-about-the-housing-market","What Past Recessions Tell Us About the Housing Market","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2023\u002F01\u002F12122102\u002Fwhat-past-recessions-tell-us-about-the-housing-market-in-2023-KCM.jpg","2023-01-16T11:00:30Z",{"id":41,"slug":42,"title":43,"featuredImage":44,"publishedAt":45,"contentType":10,"isVideo":14},4517,"have-home-values-hit-bottom","Have Home Values Hit Bottom?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2023\u002F01\u002F17142456\u002Fhave-home-values-hit-bottom-KCM.jpg","2023-01-18T11:00:27Z",{"cover":47,"open":48,"shareSpread":49},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[51,55,56,60,64,68,72,73,77,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":52,"name":53,"slug":54},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":57,"name":58,"slug":59},6,"For Sellers","sellers",{"id":61,"name":62,"slug":63},7,"Foreclosures","foreclosures",{"id":65,"name":66,"slug":67},8,"Infographics","infographics",{"id":69,"name":70,"slug":71},9,"Home Prices","home-prices",{"id":21,"name":22,"slug":23},{"id":74,"name":75,"slug":76},34,"Senior Market","senior-market",{"id":25,"name":26,"slug":27},{"id":29,"name":30,"slug":31},{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]