Mortgage rates drop to lowest level since Feb ’23, and are down 15% since May. As I have been telling buyers, there are some deals out there if you can zero in on the right property. Real estate isn’t a one-size-fits-all on the investment front. Within a specific market/area the ROI between 2 properties can be drastically different, even if the purchase price and mortgage rate are the same. When purchasing, you need to fully understand the potential carrying costs in relation to updates, repairs, and general buyer demand for a specific unit type will be as years go by. So, although rates are down that does not mean you should jump at the first place you see without fully processing all sides of the purchase. The rates falling will however make it more competitive on the buying front. The summer saw a stall in buyer activity, but that has quickly transitioned as we settle in to Fall Market, compounded by rates dropping. If you are looking to purchase make sure you evaluate thoroughly before making an offer!