Higher mortgage rates can weaken a seller’s position while giving a qualified buyer more room to negotiate. That opportunity comes with a catch: winning a discount does not automatically mean winning an affordable payment. Freddie Mac’s October 8 survey put the average 30 year fixed mortgage rate at 7.40%, compared with 6.30% a year earlier. Borrowing became more expensive even before buyers considered taxes, insurance and repairs. For sellers, the damage begins with the size of the buyer pool. When…
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The Mortgage Rate You Hate Could Help You Knock Thousands Off the Asking Price
Higher mortgage rates can weaken a seller’s position while giving a qualified buyer more room to negotiate. That opportunity comes with a catch: winning a discount does not automatically mean winning an affordable payment.
