Home For The Holidays: Will It Be Better To Buy At Thanksgiving Or Christmas?
By ERIN FLYNN JAY
Holiday home shoppers who are sensitive to mortgage interest rates near 8% may resist the idea of buying before Thanksgiving, hoping that Santa Claus brings relief, but is waiting until Christmas the answer this season?
On Wednesday, the Federal Reserve held its target range for the federal funds rate at 5.25% to 5.5%, and mortgage rates slipped in anticipation of the news. But Orphe Divounguy, senior macroeconomist at Zillow Home Loans, warned that investors will likely recalculate their inflation forecasts based on employment and wage growth data, “causing large swings in mortgage rates.”
That means uncertainty for homebuyers.
Matt Ronne, senior loan officer with Motto Mortgage Preferred Brokers in Athens, TN, said that this year, with…