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When Will Mortgage Rates Go Down?, The Perils Of Overpricing, Mortgage Delinquencies Surge

January 10, 2023 Gerald Lucas

When Will Mortgage Rates Go Down?

Real Estate Tip:

Overpricing a property reduces its selling price-it inevitably ends with price cutting & a weak negotiating position. The longer a property stays on the market, the less it will sell for. The key to selling a property for top dollar is pricing it correctly in the 1st 30-45 days it's on the market.

Real Estate Insight:

In November, approximately 1.6 million homeowners were more than 30 days past due on their mortgages, leading to a national delinquency rate of just over 3% which represented a 3.5% increase from October's total, while loans 60 or more days late saw an 11% surge.

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Tags Gerald Lucas, real estate tips, real estate strategies, mortgage rates, Freddie Mac, forecast
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