December Mortgage Trends: What Do Current Interest Rates Mean for Buyers and Sellers?

As 2024 winds down, the real estate market is abuzz with trends in mortgage interest rates. Whether you’re a buyer looking to secure your dream home or a seller contemplating the perfect time to list, understanding the current interest rate landscape is crucial. Here’s an overview of December’s mortgage trends and how they can influence your real estate decisions.

For Buyers: Maximize Your Purchasing Power

Interest rates directly impact your home-buying budget. With rates stabilizing, now may be the ideal time to act before potential changes in the new year. To make the most of the current conditions:

• Get Pre-Approved: Knowing your borrowing capacity allows you to act quickly when you find the right property.
• Lock In Your Rate: Many lenders offer rate locks, ensuring you’re protected from sudden increases during your home search.
• Consult a Real Estate Expert: Work with a professional agent who can guide you to homes within your budget and negotiate the best terms.

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For Sellers: The Holiday Advantage

December might be one of the most underrated times to sell your home. With motivated buyers looking to close deals before the year’s end and reduced competition among listings, your property could stand out in the holiday market. Leverage this unique timing by working with an experienced agent to create a strategy that maximizes your home’s appeal.

What’s Happening With Interest Rates?

To understand the latest trends, we turned to Scenic Oaks Funding, our trusted lending partner. Here’s what Dave Waldschmidt, Scenic Oaks Funding Mortgage Advisor & Sales Manager, shared:

“Mortgage rates have improved over the last 30 days, creating a window of opportunity for both buyers and sellers. While rates remain higher than the historic lows of 2020-2021, we’ve seen signs of stabilization, making it easier for clients to plan their next steps. Even small changes in rates can significantly affect affordability and monthly payments, so staying informed is critical.”

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What’s Ahead for Interest Rates?

“As we approach 2025, interest rates may fluctuate due to factors such as inflation, geopolitical events, and shifts in economic policy,” says Waldschmidt. “For buyers and sellers, staying ahead of these trends will allow for more confident, strategic decisions.”

Exclusive Financing Opportunities

Scenic Oaks Funding offers special financing options that could make a big difference. For instance, buyers in Sacramento County can take advantage of programs requiring as little as 3% down—without mortgage insurance! These programs are particularly beneficial for affordability and long-term savings.

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Stay Ahead With Monthly Market Updates

For the latest insights, check out Windermere’s Greater Sacramento Market Update . This monthly resource provides comprehensive data, trends, and actionable advice to help you stay informed and empowered, whether you’re buying, selling, or simply observing the market.

Navigating the Market in December

Regardless of your real estate goals, December offers unique opportunities:

• For Sellers: Emphasize your home’s features with festive seasonal staging and robust marketing strategies to attract motivated buyers.
• For Buyers: Don’t wait—connect with a lender now to explore your options and lock in favorable rates.

Let’s Make Your Real Estate Goals a Reality

At Windermere Signature Properties, we’re here to guide you every step of the way. Reach out to us today to learn more about how current market trends and mortgage rates can work in your favor. Let’s wrap up 2024 by helping you move closer to your dream home or achieve a successful sale!

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About Scenic Oaks Funding

At Scenic Oaks Funding, we’re here to streamline your home-buying journey. We pride ourselves on our efficiency and accessibility, allowing us to successfully serve our communities. We value our customers and focus on building life-long relationships with the clients we serve. 

Over the last decade, our local business has grown to serve communities up and down the West Coast and beyond. We now have mortgage originators in California, Oregon, Washington, Arizona, Utah, Idaho, and Colorado, granting us the opportunity to help even more homebuyers.

To find out more about home loan options or to get pre-approved, please visit www.scenicoaks.com. 

Scenic Oaks Funding is an Equal Housing Opportunity Lender (Company NMLS #252939). Scenic Oaks Funding has a business relationship with Windermere Real Estate.