{"id":10073,"date":"2024-04-10T06:30:00","date_gmt":"2024-04-10T10:30:00","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=10073"},"modified":"2024-04-10T06:30:00","modified_gmt":"2024-04-10T10:30:00","slug":"should-i-move-with-todays-mortgage-rates","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=10073","title":{"rendered":"Should I Move with Today\u2019s Mortgage Rates?"},"content":{"rendered":"
\"Should<\/p>\n

When mortgage rates<\/a> spiked up over the last few years, some homeowners put their plans to move on pause. Maybe you did too because you didn\u2019t want to sell and take on a higher mortgage rate for your next home. But is that still the right strategy for you?<\/p>\n

In <\/span>today\u2019s market<\/a>, data shows more homeowners are getting used to where rates are and thinking it may be time <\/span>to move<\/a>. As Mark Zandi, Chief Economist at <\/span>Moody\u2019s Analytics<\/em>, <\/span>explains<\/a>:<\/span><\/p>\n

\u201cListings are up a bit as life events and job changes are putting increasing pressure on locked-in homeowners to sell their homes. <\/em>Homeowners may also be slowly coming to the realization that mortgage rates aren\u2019t going back anywhere near the rate on their existing mortgage.<\/em><\/strong>\u201d<\/em><\/p><\/blockquote>\n

A recent study<\/a> from Bank of America<\/em> sheds light on some of the things homeowners say would make them sell<\/a>, even with rates where they are right now (see visual below<\/em>):<\/p>\n

\"a<\/a><\/p>\n

<\/p>\n

What Would Motivate You To Move?<\/strong><\/h4>\n

Now that you know why other people would move, take a minute to think about what would make a move worth it for you. Is it time to take a chance and go for your dream job, even though it\u2019s not local? Are you looking for a neighborhood that has more to offer and a close-knit sense of community? Maybe you just need more space, you\u2019re looking for your next great adventure, or you want a house that opens up rental opportunities to pad your income.<\/p>\n

And here\u2019s something else to consider. Mortgage rates are still expected to go down<\/a> over the course of the year. And once that happens, there\u2019s going to be a big rush of buyers jumping back into the market. While you could delay your plans until rates drop, you\u2019ll only have more competition with those buyers if you do.<\/p>\n

So, does that mean it\u2019s worth it to move now, even with rates where they are? The answer is: that it depends. <\/strong><\/p>\n

You’ll want to consider today\u2019s mortgage rates, where they\u2019re expected to go from here, and what would prompt you to want to make a change as you decide on your next steps. An expert can help with that.\u00a0<\/p>\n

Bottom Line<\/h3>\n

Other homeowners are getting used to rates and deciding to move. Talk to a local real estate agent to go over what matters most to you and if it\u2019s time for you to jump back into the market too.\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\"Should<\/p>\n

When mortgage rates spiked up over the last few years, some homeowners put their plans to move on pause.<\/p>\n<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,85,192],"tags":[],"class_list":["post-10073","post","type-post","status-publish","format-standard","hentry","category-blog","category-for-sellers","category-mortgage-rates"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/10073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10073"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/10073\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}