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Current Interest Rates (February 2024)

Thursday, March 7, 2024   /   by Annie Junker

Current Interest Rates (February 2024)

Current Interest Rates
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The latest news from The Chris Small Group...
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Current Interest Rates

What's going on with interest rates? It's been predicted that they will come down as 2024 moves forward. The interest rates predictions at the beginning of January and at the end of December of last year, and even our rates today, are even less than they predicted in the fourth quarter and moving into the middle of the second quarter.

The Fed has not lowered rates yet and it appears right now that predictions for that are not going to be released until mid to late March, or maybe even after that. But the good news is that domestic mortgage rates have softened a little bit because of demand in that market.

But companies are out there doing things to work to help buyers and there are some loan programs that have five one buydown, seven one buydown, etc. There are some good products out there that offer a little bit of relief rather than just a straight 30 year fixed mortgage.

If you need to find out more about interest rates or mortgage programs, we have several fantastic lenders that we work with and recommend to our clients. I would be glad to refer you to them so you can find out exactly what's available. There are also some very good loan programs out there that didn't exist a few years ago.

So if you are ready to make your move and you need some questions answered about financing and how it works, please contact me!

804-350-0879 | chris@smallre.net | chrissmallgroup.com

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It is my responsibility as your REALTOR® to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the market effectively to achieve your goals.

If you would like to know more about the current market, or if you have any general real estate questions, call or text me on my cell phone at 804-350-0879 or you can email me at chris@smallre.net.

If you are looking to begin a home search, visit my website to get started!

UNDER CONTRACT ON THE FIRST DAY OF REVIEW WITH
MULTIPLE OFFERS!
 
2 Tow Path Circle
The Carillon
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UNDER CONTRACT!  
612 West Franklin Street #UB11
The Prestwould
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UNDER CONTRACT!  
13213 Edmonton Drive
Tarrington
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SOLD!  
2412 Kensington Avenue
Fan District
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SOLD!  
2112 Hanover Avenue
Fan District
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UNDER CONTRACT!  
6 South Arthur Ashe Boulevard

Museum District
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SOLD!  
2909 Ellwood Avenue

Museum District
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SOLD!  
1220 Balustrade Boulevard #3A
Monument Square
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SOLD!  
10800 Millington Lane
Royal Oaks | Henrico
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Additional resources
 
We are select partners with REALM and Leverage Global Partners. What does this mean for you as our client? If you are looking to relocate or buy a second home in an entirely different city (or on a different continent!), Small and Associates has you covered. As a member of these exclusive networks, we work with other like-minded agents and to put you in touch with the right REALTOR® outside of the Central Virginia area. If you or someone you know has been considering a unique move, let us be your guide.
 
To learn more, click the links below:
 
In addition to being a partner to two exclusive global networks, I am a proud member of the Institute for Luxury Home Marketing and am a Certified Luxury Home Marketing Specialist. This means that I will market your property to the highest standards with access to the latest trends in the industry. I am the only Real Estate professional in the Central Virginia area with this designation!
Are you interested in buying a second home but, aren't ready to fully commit to another property? As a part of our partnership with REALM, we can direct you to properties all over the world with Pacaso. Pacaso is Luxury Co-Ownership where you have the ability to  own a second house for 1/8 of the cost. Click here to learn more and to start shopping!
Are you looking for your own slice of "La Dolce Vita"? Small and Associates has the connections to make it happen. We have personal contacts with firms in Italy and would be happy to help with your home search and make an introduction!
Client Testimonial: Click the link below to hear from Sarah Merriman, a client of Chris Small. Thank you for your kind words Sarah! It's always been an honor to help you with your Real Estate goals.
Client Testimonial from Sarah Merriman
The Chris Small Group at Small and Associates
At The Chris Small Group, we embrace today's dynamic Real Estate market with fresh and strategic approaches to deliver optimal results. Our mission is to craft customized marketing plans that align precisely with the current market landscape. We commit to delivering exceptional outcomes that resonate with trends and buyer preferences. With our unmatched understanding of market dynamics, we ensure our clients' homes stand out and captivate potential buyers. Trust our expertise to maximize your property's exposure and generate genuine interest. Choose The Chris Small Group and experience the transformative power of our innovative and market-savvy approach in today's evolving real estate landscape.
A Story of a Sale: 3301 West Franklin Street
Chris Small, Broker | Owner
Luxury Real Estate Specialist

804-350-0879 | chris@smallre.net
chris.findahomerichmond.com
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Small & Associates Real Estate, Inc.
3103 Ellwood Ave.
Richmond, VA 23221
804-353-1250

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