Franklin Monthly Real Estate Recap: September 2024
It's officially the first week of Fall. And with the change in seasons, we are also on the road to a shift in the Real Estate market. You've all likely heard about The Fed lowering the funds rate last week so I won't repeat any of that. And though the funds rate is not directly tied to mortgage interest rates, at the very least, The Fed's action has restored some Buyer confidence back into the market. If there's anything I've learned in these past 4 years of Real Estate roller-coasting, it's that Buyer confidence pretty much drives everything -- regardless of any facts present. And while we have seen a steady decline in mortgage interest rates over the past 5 months (the lowest they've been in nearly 2 years), Buyers are just now re-entering the market in September. According to Mortgage Bankers Association, the number of people applying for mortgages in the US continues to increase week-by-week. Mortgage applications increased 1.4% as of September 6t
