{"id":5780,"date":"2024-04-10T05:30:00","date_gmt":"2024-04-10T10:30:00","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/should-i-move-with-todays-mortgage-rates\/"},"modified":"2024-04-10T05:30:00","modified_gmt":"2024-04-10T10:30:00","slug":"should-i-move-with-todays-mortgage-rates","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/should-i-move-with-todays-mortgage-rates\/","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. <\/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. <\/p>\n

Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

When mortgage rates 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? In today\u2019s market, data shows more […]<\/p>\n","protected":false},"author":1,"featured_media":5781,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-5780","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\nShould I Move with Today\u2019s Mortgage Rates?—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/should-i-move-with-todays-mortgage-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Should I Move with Today\u2019s Mortgage Rates?—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"When mortgage rates spiked up over the last few years, some homeowners put their plans to move on pause. 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