Mortgage rates are still low, but they’re ticking back up. Mortgage rates are closely tied to 10-year Treasury bond yields, which are beginning to spike. When borrowing is more expensive, that can discourage buyers.
In an ominous sign, Home Depot declined to give any profit guidance for 2021 when it reported earnings Tuesday, sending shares down 3%. That lack of guidance signals uncertainty. And being uncertain right now makes sense. The pandemic has upended everything, and it’s not clear what the new normal will be as vaccinations roll out and the pandemic continues to shape consumer behavior.
So, the moral of the story… If you are looking to purchase a home, whether you are downsizing, upsizing, relocating, or just need a change Or, you are looking to sell your home during a very active market. THERE IS NO BETTER TIME TO DO IT THAN NOW. In fact, this may be the once in a generation moment that comes along, and some take advantage of and some folks look back and wish they had.