Mortgage Rates Have Dropped

While recent economic news may have been a bit unsettling, it's caused mortgage rates to drop. For example, a 30 Year Fixed Rate Jumbo loan from Wells Fargo can be had at 5.875%. We can't remember the last time we saw rates under 6%. This doesn't take into account the further, more substantial cuts that are anticipated after the Fed's next meeting in September.

Obviously lower rates benefit buyers, making their home purchases more affordable. That in turn benefits sellers. Potentially, this could be a busy fall.