Michael Lorimor, Vice President of Real Estate Lending at Heartland Credit Union, discusses the current state of interest rates and the real estate market.
With the national average interest rate now at 6.35%, down from over 7% in mid-July, and predictions of further decreases by the end of 2025, it’s a crucial time for both buyers and those considering refinancing their current mortgage. Michael also highlights the improving inventory and competitive nature of the market, offering valuable insights for anyone navigating today’s real estate landscape.
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