For homebuyers, there’s a silver lining. Uncertainty has a way of making mortgages cheaper. Last week, rates hit their lowest in a year.
“The plummeting U.S. stock market is giving potential homebuyers an unexpected boost in the form of lower mortgage rates,” said LeeSa Lyons, a Redfin agent in Atlanta. And many Americans have benefited from record-breaking share prices since the great recession. Remember this chart:
Lorraine is enjoying her first real job after a career in journalism. She’s based in Washington, D.C., where she writes about housing and the economy. Before joining Redfin, Lorraine was at Bloomberg News reporting on politics, financial mayhem, housing and the economy. Her dream home is a top-floor loft with a pool, friendly neighbors and a terrace for throwing parties. Everyone's invited.
Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our "Why Redfin?," page.