The news we’ve all been waiting for: Inflation is finally starting to slow! Yesterday’s report on inflation is bringing some much-needed relief to homebuyers in Texas and across the country.
In response to cooling inflation, economic forecasters are predicting that the Fed is done with rate hikes for a bit. Since the latest inflation data shows the numbers coming closer to the Fed’s target, the market is calling down. And why does that matter? Because it means mortgage rates are dropping!
So while Texas mortgage rates aren’t significantly lower just yet, they have fallen under 7%, and it looks as though they’ll continue to drop. And for would-be homebuyers, this could be the positive sign you were looking for to ramp up your housing search!