Rates have more than doubled this year and have penetrated the 7.0% benchmark as we forecasted back in June 2022. The surge in interest rates will level off and bounce between 6.0% and 7.0% for the next 90-120 days. Shop your rate!
Rates should start to come down in mid to late 2023. The higher rates will force buyers to remain on the sidelines or get creative to find lower rates and options. Beaufort lendings 2/1 Buydown will provide buyers rates 2% lower than the locked rate in year #1 and 1% lower in year #2.
Benji Gecy, Broker/Owner
1857 Ribaut Rd, Port Royal, SC 29935
24 New Orleans Rd, Hilton Head, SC
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