The Feb Cut the Rate by 1/2 point

We should see interest rates for Conforming (under 417K) fixed -rate loans stabilize down to 6%, which is better than we have seen all year. Now is a great time to buy since the inventory is good and rates are great! Hopefully, as a result, Jumbo loans (those over 417K) will move down to 6.5%; they have been about 7% in the past week or so.  However, many luxury home buyers pay cash or put more than 1/3 down and are less influenced by interest rates than mainstream borrowers. This gives a shot in the arm to the housing market which is stabilizing but slows down seasonally at this time in Tucson.

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