Daily mortgage rates dip to 5.99% Lowest since 2022 | Inventory vs Sales




 


WHEN IT'S TIME TO SELL YOUR HOME:
-$15,000 off the list fee if we don’t sell it within the first 15 Days
-Repairs and upgrades managed and paid at closing
-Your home sold guaranteed, or we’ll buy it
-Inspections paid at closing
-Staging included
-360 Virtual Tour

Vito Scarnecchia,
Broker, Realtor, Dad
Abitano.com DRE01407676 408.479.2427
Call today to get started! Offer Valid until 4/1/2026






Rates Drop Below 6
All right. Rates are below 6%. Yes, they are. We've been asking and asking and begging and pleading, and now. We're down below 6%, 5.99. Lowest suspense since 2022. Congratulations, buyers. Let's get your ass into the market. Let's go. 

Why Buyers Must Act

There's no excuse now, but guess what? There's gonna be a hundred times more competition trying to buy that same house.

You waited too long. You were waiting for the right price. The right price is here, and everybody else is going to take advantage of it right now,w too. So there you go. Good for us. Good for everybody. That's, that's what we wanted. That's what I wanted. Right? I have like five, six listings I'm putting up on the market in the next couple weeks, and I'm gonna be busy as all get out and, um, yeah, could've, shoulda, would've.

Should have gotten into it. There you go. All right. 

Breaking Down Mortgage Rates

30 year fixed mortgage rates fell below 6%. First time since 20 22, 30-year rate. Now these are not jumbo. Understand that these are not jumbo. These are standard rate mortgages, like right here, 30-year fixed, 30-year jumbos, three tenths higher.

Not. Don't worry about it. I got you. We will go back to see how much it costs you in a minute here. All right. 

Monthly Savings vs Competition

This is sponsored by Homes.com, and here it is daily mortgage rates below 6%, save hundreds. You go totally paid, and your payments go down considerably. Two if fewer were at 7% versus 6%. There you go.

You're saving hundreds of dollars every 102 hundred $82 a month. For the monthly payment, but understand that now that rates are lower, there's going to be more buyers in the market, meaning more competition. When there's more competition, prices go up. It's never gonna be an easy way. Oh, but the market's but the economy's not doing right.

Look, we haven't had a drought of homes staying on the market for a very long time unless it's overpriced. If the house is overpriced, your house is going to sit on the market. But if it's priced right, you attract the market, you're going to sell it really quick. Dunno how else to explain it to you. 

Seller Market Inventory Reality

Look, we're still in a seller's market here.

Hello. There we go. We're still in a seller's market. A seller's market is when the average home takes over six months to sell. We're at four at the highest. Most areas are at less than two months. See this right here? Santa Clara County, months of inventory. That's 6% right here. This is 2%. Most of the cities are below the two-month mark, let alone the four-month mark.

We're still in a seller's market. Now that rates have come down, we're going to be back into a. Seller's market. More buyers hit the market. More buyers hit the market. More competition. More competition. Higher prices,

dunno what else to tell you. 

Renting Trends and Affordability

Single-family rents continue. Prolonged slowdown, it's good. You're probably better off renting for the long term. Hate to say this as a sales guy who sells real estate. But if you're not in a position to, to be able to afford to buy a house where you live, your choices are simple.

Rent. Continue to rent or move out of an area that you can't afford into an area that you can't afford. That's it. That's all you get to do. Single-family rents continue to rise. Slow down. That means more people are opting to buy or go to less expensive areas. Even as renters, they do that, right?

Overall rent growth remains 15 year lows because. Rents have been pushed up so high because of the market for so long that people are backing away from it. What some people are doing is they're moving back home, or they're doubling up, having multiple people or multiple couples, multiple entities living in the same area, in the same house or apartment.

It just is what it is. Times are hard, and if you can't afford it, you're going to do it. There's a separation of those who have and those who have not. Right? 





Agent Offer and Listing Services
If you're planning on selling your house, buying a house, moving, buying another, selling and buying, or what have you, or you're even in a probate situation, something that we take care of as well, right?

We're off. This is my offer over the next couple of months. $15,000 off the list fee. That's my commission. If we don't sell in the first 15 days, I pick the price, I pick the list price. We take care of your upgrades and your repairs before we put it on the market, and you pay for it at closing. If you can't afford it, your home will be sold guarantee or I will buy it at my price.

Inspections paid at closing. Yep. Staging is included. That means I pay it, I front it, and I take care of it. And we do the 360 tour. We do the Homes.com marketing. We do all that stuff, all behind it. This is good until April 1st. You have to list your house by April 1st. Okay? If you're interested, we'll wanna learn more.

Gimme a call. Probate and estate sales, all that's included. We take care of emptying out all your parents' stuff. We help move them off, get them situated into a home or into another house, or a smaller home, downsizing, what have you, and we'll take care of that, that for you. If you're wondering about all that, let me know.

I can show you the entire process. 






Homescom Marketing Walkthrough
It's entire listing pitch what you get when we advertise on homes.com, right? You get. To know about the Val, you need to get to know about the area. You get to know about the schools. Something that we're not allowed to talk about, but since I'm sponsoring this page, the schools are talked about or spoken about through Homes.com.

So you get a little bit more interest in there, and then you see all the ads that we're placing. You could see all the views, all that stuff, all the analytics, how many people are looking at it, how many people favor it, how many leads I've gotten to follow up on that kind of thing. It's a great, it's a great process.

There you go. 

Jumbo Example Under 6

And then again, six 5.99 versus 6.29 jumbo, and you can still drop it down. Watch, so you look. A 30-year, a 30-year jumbo, $2.4 million purchase price. $500,000 down. Excellent credit in 9 5 1 2 oh Almaden Almaden Valley, you're looking at 5.69. Five and two-thirds 5.625. That's five. 5.5 eighths.

Five and five-eighths, right. It's under 6%. Guys. We've been wanting this for a long time. You have no excuse now. You got everything you want. I got a buddy who works for Cross Country Mortgage. No quote there. These are not quoted, by the way, these are teaser rates, so make sure if you, if you need to talk to a lender, let me know.

Put you in touch with my brokers who talk to multiple banks, multiple banks, and they can get you the best rate out there without you having to shop for it. So just know that we can do that too. And here we go. 







Inventory Outlook and Wrap Up
Inventory looks like it's climbing, but that's because I haven't touched February yet. Once February's done in the next seven days, you'll see that these numbers are going to start coming back down again.
You're gonna see these curves down just like this. Just like this, right? Active number versus the number of months of inventory. It's still super low. If we're up here, we would be having a different conversation, but we're still way below the six-month mark, just like right here. All right. That's it for now.

Thanks for watching. I'm Vito with Abano. We'll see you out there.

 





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Vito Scarnecchia

Real Estate Broker, Veteran, Dad
DRE#: 01407676
408-705-6817
Vitos@abitano.com
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