Will home prices decrease soon in Omaha?
Mortgage rates have inched up a bit... will that cause home prices to decrease?
...Probably not. While not as low as last year, interest rates are still historically on the low end of the scale. (Feel GOOD about a mortgage rate under 5%!) With employment in Omaha incredibly strong and demand still hugely outweighing supply, experts theorize the market will remain decidedly in favor of home sellers.
Keep in mind that Millennials (move-up and first-time home-buyers) and Baby Boomers (downsizers) are commonly looking for the same type of house which puts increased supply chokeholds on those looking in the $250-400k price range.
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Sample Mortgage Rates
For 11/20/2024
30 Year Fixed |
6.75% |
15 Year Fixed |
6.25% |
7/6 ARM |
7.5% |
For general informational purposes only. Actual rates available to you will depend on many factors including lender, income, credit, location, and property value. Contact a mortgage broker to find out what programs are available to you.
Mortgage calculator estimates are provided by Better Homes and Gardens Real Estate LLC and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.
