[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fi3h5xnecg6ta":3,"$ffeh0925h8cuz":39,"$fbwk2pqjjqsc7":43},{"item":4,"previous":27,"next":33},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":25,"updatedAt":26},39601,"are-more-homeowners-selling-as-mortgage-rates-come-down","Are More Homeowners Selling as Mortgage Rates Come Down?","\u003Cp>If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240117\u002F20240124-Are-more-homeowners-selling-as-mortgage-rates-come-down.jpg","\u003Cp>If you’re looking to \u003Ca href=\"\u002F2024\u002F01\u002F05\u002Fachieving-your-homebuying-dreams-in-2024-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buy a home\u003C\u002Fa>, the recent downward trend in \u003Ca href=\"\u002F2024\u002F01\u002F08\u002Fwhat-lower-mortgage-rates-mean-for-your-purchasing-power\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">mortgage rates\u003C\u002Fa> is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.\u003C\u002Fp>\u003Ch4>\u003Cstrong>The Mortgage Rate Lock-In Effect\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from \u003Cem>Freddie Mac \u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fresearch\u002Fforecast\u002F20231220-us-economy-expanded-in-2023\" rel=\"noopener noreferrer\" target=\"_blank\">explains\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>The lack of housing supply was partly driven by the rate lock-in effect\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>. . . . With higher rates, the incentive for existing homeowners to list their property and move to a new house has greatly diminished, leaving them rate locked.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>These homeowners decided to stay put and keep their current lower mortgage rate, rather than move and take on a higher one on their next home.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Early Signs Show Those Homeowners Are Ready To Move Again\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>According to the \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fdata\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">latest data\u003C\u002Fa> from \u003Cem>Realtor.com\u003C\u002Fem>, there were more homeowners putting their houses up for sale, known in the industry as \u003Cstrong>\u003Cem>new listings\u003C\u002Fem>\u003C\u002Fstrong>, in December 2023 compared to December 2022 (\u003Cem>see graph below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp> \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240117\u002F20240124-Sellers-Are-Re-entering-the-market.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240117\u002F20240124-Sellers-Are-Re-entering-the-market.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>Here's why this is so significant. Typically, activity in the \u003Ca href=\"\u002F2024\u002F01\u002F03\u002Fthinking-about-buying-a-home-ask-yourself-these-questions\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">housing market\u003C\u002Fa> cools down in the later months of the year as some sellers choose to delay their moves until January rolls around.\u003C\u002Fp>\u003Cp>\u003Cstrong>This is the first time since 2020 that we’ve seen an uptick in new listings this time of year.\u003C\u002Fstrong> This could be a signal that the rate lock-in effect is easing a bit in response to \u003Ca href=\"\u002F2023\u002F12\u002F20\u002Fwhy-mortgage-rates-could-continue-to-decline\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">lower rates\u003C\u002Fa>.\u003C\u002Fp>\u003Ch4>\u003Cstrong>What This Means for You\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>While there isn’t going to suddenly be an influx of options for your \u003Ca href=\"\u002F2023\u002F11\u002F21\u002Fare-there-actually-more-homes-for-sale-right-now\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home search\u003C\u002Fa>, it does mean more sellers may be deciding to list. According to a \u003Ca href=\"https:\u002F\u002Fwww.jchs.harvard.edu\u002Fblog\u002Fhomeowner-mobility-stalls-amid-rising-interest-rates\" rel=\"noopener noreferrer\" target=\"_blank\">recent article\u003C\u002Fa> from the \u003Cem>Joint Center for Housing Studies\u003C\u002Fem> (JCHS):\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>A reduction in interest rates could alleviate the lock-in effect\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> and help lift homeowner mobility. Indeed, interest rates have recently declined, falling by a full percentage point from October to November 2023 . . . \u003C\u002Fem>\u003Cstrong>\u003Cem>Further decreases would reduce the barrier to moving and give homeowners looking to sell a newfound sense of urgency\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> . . .”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>And that means you may see more homes come onto the market to give you more \u003Ca href=\"\u002F2023\u002F12\u002F11\u002Fthe-perfect-home-could-be-the-one-you-perfect-after-buying\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">fresh options\u003C\u002Fa> to choose from.\u003C\u002Fp>","\u003Cp>As mortgage rates come down, more sellers may re-enter the market – that gives you an opportunity to find the home you’re looking for. \u003Ca href=\"\u002F2023\u002F12\u002F07\u002Fwhy-you-need-to-use-a-real-estate-agent-when-you-buy-a-home\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Let’s connect\u003C\u002Fa> so you’ve got a local expert on your side who’ll help you stay on top of the latest listings in our area.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240117\u002F20240124-Sellers-Are-Re-entering-the-market.png",false,[17,21],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},38,"Move-Up","move-up","2024-01-24T11:30:00Z","2024-01-25T18:18:58Z",{"id":28,"slug":29,"title":30,"featuredImage":31,"publishedAt":32,"contentType":10,"isVideo":15},40252,"experts-project-home-prices-will-increase-in-2024","Experts Project Home Prices Will Increase in 2024","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240122\u002F20240123-Experts-Project-Home-Prices-Will-Increase-in-2024.png","2024-01-23T11:30:00Z",{"id":34,"slug":35,"title":36,"featuredImage":37,"publishedAt":38,"contentType":10,"isVideo":15},40562,"the-top-benefits-of-buying-a-multi-generational-home","The Top Benefits of Buying a Multi-Generational Home","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240124\u002F20240125-The-Benefits-of-Buying-a-Multi-Generational-Home.png","2024-01-25T11:30:00Z",{"cover":40,"open":41,"shareSpread":42},"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",[44,48,49,53,57,61,65,69,73,77,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":45,"name":46,"slug":47},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":50,"name":51,"slug":52},6,"For Sellers","sellers",{"id":54,"name":55,"slug":56},7,"Foreclosures","foreclosures",{"id":58,"name":59,"slug":60},8,"Infographics","infographics",{"id":62,"name":63,"slug":64},9,"Home Prices","home-prices",{"id":66,"name":67,"slug":68},11,"First-Time Buyers","first-time-buyers",{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":22,"name":23,"slug":24},{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]